Preheat the oven to 350° F. Grease a 9x5-inch loaf pan and set it aside.
In a large skillet, melt the butter and sugar. Add the banana slices and cook until the bananas are softened in texture and caramelized. Remove the pan from the heat and allow it to cool slightly. Transfer the banana mixture to a large bowl and whisk until the mixture is smooth and no longer hot.
In a small bowl, whisk together the milk, oil, vanilla, and eggs. In a separate bowl, whisk together the all-purpose flour, baking soda, and salt.
Add the liquid ingredients to the cooled banana mixture. Stir to combine.
Fold in the dry ingredients, mixing just until combined. Finally, fold in the shredded coconut and chocolate chips.
Transfer the batter to the prepared pan. Bake the bread for 50-55 minutes, or until a toothpick inserted into the center comes out clean.
STORAGE - Store banana bread in an airtight container or tightly wrapped at room temperature for up to 4 days or in the refrigerator for up to a week. *Storing the bread at room temperature keeps it moist, but shortens the shelf life while refrigerating extends it.
FREEZE - Quickbreads are great for freezing. Wrap the bread tightly in plastic wrap and then in foil. Freeze for up to 2 months.