Heat oven to 350 degrees.
Combine flour, sugar, baking powder, salt in a large mixing bowl.
Add vegetable oil, rum, milk, egg, and mashed banana and mix until smooth.
Stir in toasted coconut.
Pour into 1 loaf pan or 3 mini loaf pans.
Bake at 350 degrees 60-65 minutes (large) or 40-45 minutes (mini).
Remove from oven; cool slightly.
Loosen sides of loaf from pan and remove to wire rack to cool completely.
For glaze: combine powdered sugar, rum, and heavy cream and drizzle over slightly cooled bread.
Top with toasted coconut.