Remove the coconut meat from the shell and cut it into smaller pieces.

Add the coconut pieces to a food processor and process until finely grated. You can also grate the coconut by hand or use a blender.

If using a blender, add just enough water to help it blend, then strain and squeeze out the excess liquid.

Mix the sugar and water until the sugar dissolves. Set aside.

Preheat the oven to 350°F. Grease two loaf pans.

In a large bowl, combine the flour, baking powder, cinnamon, and nutmeg.

Add the butter and rub it into the flour mixture until well incorporated.

Add the sugar and grated coconut and mix to combine.

Gradually add the water, mixing between additions until the mixture comes together without becoming lumpy.

Add the raisins, chopped cherries, mixed peel, and coconut essence. Mix until evenly combined.

Divide the mixture evenly between the prepared loaf pans.

Brush the warm loaves with the prepared glaze.

Allow to cool before removing from the pans and slicing.