Preheat oven to 325 degrees Fahrenheit.
Spread the sweetened coconut flakes on a small baking sheet, sprinkle with the salt and cinnamon, and mix and spread again. Bake 7 to 8 minutes, or until the coconut flakes barely begin to toast (don't let them brown entirely). They should be slightly crisp and still chewy. Remove from the oven and immediately transfer to a small bowl.
Pour the coconut milk and sweetened condensed milk into a medium saucepan.
In a small bowl, mix the cornstarch with the regular milk and stir until completely dissolved. Pour it into the pan with the coconut milk and sweetened condensed milk.
Place the saucepan over medium heat and cook, stirring continuously, until the mixture begins to simmer and thicken, about 8 to 10 minutes, until it coats the back of a wooden spoon. Remove from heat.
Immediately ladle into custard bowls or ramekins, sprinkle with the toasted coconut. Serve warm right away. Or serve cold later on by letting cool completely, then covering with plastic wrap and chilling in the refrigerator for a couple of hours.