In a large bowl, beat butter with electric mixer on medium to high speed for 30 seconds. Add powdered sugar, almond extract, and salt; beat until combined. Beat in egg yolk. Beat in as much of the flour as you can with mixer. Stir in any remaining flour and 1 cup toasted coconut.
Divide dough in half. Shape each half into 8 inch roll. Brush rolls with egg white, then roll in 1 1/2 cups coconut to coat. Wrap rolls in plastic wrap or waxed paper. Chill for 4 to 24 hours.
Preheat oven to 375 degrees. Cut rolls into 1/4 inch slices. Place slices 1 inch apart on ungreased cookie sheet.
Bake for 10 to 12 minutes or until edges are lightly browned. Cool on cookie sheet for 1 minute. Transfer cookies to wire rack; cool.