OK, I don't actually use salt - but the site will not allow me to proceed unless I have 2 ingredients. So, for step one:.
Put your salt away.
Place the coconut in an ungreased non-stick frypan. Roast over medium heat until nicely browned. This only takes a few minutes - be careful. Don't worry about toasting every flake. If you burn some, your butter will have a slightly charred flavor. Don't get me wrong - I still ate it when that happened. I'm just saying - yummier if you don't burn!
Transfer the toasted coconut to your food processor or handy-dandy Thermomix. Now the fun begins. In the thermomix I mixed 20 seconds/speed 4.5 then scraped down. I continued this way for about a minute, scraping down after every 20 seconds. You want to go right past the powder stage, the paste stage and into the liquid stage. In a food processor you'll want to do the same thing, but it will take longer because a food processor is not as cool as a Thermomix.
Just when you think you've wrecked it and made some sort of nasty brown coconut liquid - stop and pour the mixture into your waiting jar. Allow it to sit at room temperature for a few hours, or even over night. It will solidify nicely.
Tastes great on everything - especially the little spoon you're going to end up using every hour or so to see if it's "done" or not.