Add coconut milk, honey, salt and vanilla to a large skillet set over high heat and bring to boil while stirring constantly with a wooden spoon or spatula. Don't worry if at first the liquids don't seem to want to combine, they will eventually come together nicely. Just keep stirring.
Let the milk mixture boil vigorously for about 3-5 minutes, until it starts to turn a light caramel color.
Lower the heat to medium-high and add the grated coconut; mix well and cook, stirring almost constantly, until the coconut mixture gets sticky and starts to caramelize, about 15 minutes total. Set aside to cool for about 10 minutes.
Meanwhile, beat the egg whites to stiff peak consistency with a hand mixer; delicately stir in coconut with a large spoon or rubber spatula, then drop the batter by the the tablespoonful onto the prepared baking sheet. A small ice cream scoop is the perfect tool for this!
Bake in the oven for 20 minutes or until the macaroons are a nice golden color.
Cool completely then store in the refrigerator in an airtight container for up to a week.