Measure flour and baking powder into a bowl. Add 1/2 cup butter, and use a hand mixer to blend butter into flour until well mixed (about 1 minute on med. speed). Stir in 1 egg and the tablespoon of milk. Mix until soft and a ball of dough forms.
Pat dough into an ungreased 8" square pan, pressing with fingers to evenly cover bottom. Spread raspberry jam over crust layer. Stir together remaining egg, melted butter, sugar, coconut, and extracts. Spread evenly over jam layer.
Bake at 350* degrees for 30 minutes and top is slightly golden brown. Allow to cool completely before cutting into squares.