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Preheat the oven to 350F degrees. Spray a large Bundt pan with non-stick spray (preferably the kind with flour for baking) and spread it around using a pastry brush.
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In a large blender or food processor add all of the ingredients in order except for baking powder and coconut (milk, oil, eggs, sugar, cornmeal and flour).
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Process for 30-60 seconds until smooth. You may need to scrap the sides of the blender a few times to evenly incorporate the ingredients.
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Add the optional coconut and process again for 10-20 seconds, then add the baking powder and process for another 10-15 seconds.
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Pour the batter into the prepared pan. Tap it on the counter a few times to get out any air bubbles. Bake for 45-55 minutes or until a toothpick comes out clean.
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Cool on a rack for 10 minutes, then unmold. Allow to cool before serving or store in an airtight container in the refrigerator.