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Preheat oven to 350*F.
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Grease and flour a 10" fluted tube pan.
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CAKE: In a large bowl, cream the butter and sugar together until light and fluffy.
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Beat in the eggs, then the sour cream, vanilla, and coconut extract.
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In another bowl, combine the flour, baking powder, baking soda, and salt.
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Add to butter mixture just until combined; do not overmix.
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Gently stir in the coconut.
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Pour the batter into the prepared pan.
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Bake for 60 minutes, or until a toothpick inserted in the center comes out clean.
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Cool 10 minutes in the pan; loosen edges and invert onto a wire rack.
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Cool completely.
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When the cake is completely cooled, pour the melted chocolate over the top of the cake, letting it drip down the sides.
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Sprinkle with 1/3 cup coconut.