Melt the white chocolate chips over low heat on the stove with the coconut oil.

Combine the milk, cream, vanilla, and sugar in a pan over low heat. When the sugar has dissolved, add the melted chocolate chips and coconut oil, as well as the coconut extract. Mix well.

Chill for several hours.

Just before churning, add the mashed bananas and shredded coconut. Follow the manufacturer's instructions on your ice cream maker for churning.

When ice cream has reached soft-serve consistency, transfer to an airtight container, mixing in the cashews as you go.

Drizzle melted chocolate on top. Chocolate will freeze on contact. Fold hardened drizzle into the ice cream, and continue drizzling and folding until all the chocolate has been incorporated into the ice cream.

Freeze for several hours or overnight.