Preheat oven to 350 degrees F (177 degrees C).
Melt the butter in the microwave (~30 seconds).
Add all the ingredients from the melted butter to pandan extract in a large bowl. Mix together until combined.
Add the sweet rice flour and baking powder. Mix until combined.
Prep donut pan by greasing it with oil or butter. I used a donut pan with donut molds that are 3 inches in diameter.
Spoon the dough into a pastry bag or Ziploc bag. Pipe the dough into the donut pans.
Bake for 10-12 minutes until a toothpick comes out clean.
Let donuts cool in the donut pan for 10 minutes. Transfer to a cooling rack to cool completely.
While the donuts are cooling, make your coconut glaze. Combine coconut milk, powdered sugar, and vanilla extract in a bowl. Mix until combined. Set aside.
Dip the donuts into the glaze and then top with shredded coconut.