Soften gelatin in cold water. Cook egg yolks, 1/4 cup sugar, salt and milk or cream over hot water until custard coats the spoon. Stir constantly. After removing from heat add softened gelatin. Stir in molasses. Let the mixture congeal, (about as thick as egg white). Make a meringue of the remaining sugar and egg whites. Fold in the custard mixture along with coconut and extract. Pour in cold, baked pie crust. Sprinkle with coconut. Chill.