First make the coconut butter. Place the desiccated coconut + 1 tbsp of the coconut oil into a food processor or high-speed blender and blend until a smooth paste is formed, stopping every few minutes to wipe down the sides. Depending on the gruntiness of your machine this will take somewhere between 2 minutes [high speed blender] and 15 minutes [super slow food processor]. I have a 7 year old Kitchenaid and it took about 4 minutes to reach coconut butter stage. Note: You want the coconut butter to be as smooth as possible for a lovely creamy icing.
Now add the remaining coconut oil and honey and a pinch of salt and blend for a further minute until a creamy consistency. Scrape the sides down as needed.
Note: If it has taken a long blending time to create the initial coconut butter the friction will heat up the mixture so it will be quite runny. Simply place the food processor bowl or blender in the fridge for 30 minutes and then give at another blitz for 30 seconds and continue with the icing. *This will also be the case if you want to firm up the frosting to ice the sides of a cake.
Spread the icing in a thick layer over the top of your cake. It will be quite soft so carefully use a knife to spread the icing to the edge of the cake. As with buttercream it will firm up within 15-20 minutes once it sits undisturbed - there is no need to keep in the fridge unless you live in a hot climate where you may need to chill to set the icing.
Notes
Note: I would recommend using organic desiccated coconut - I used Ceres - as they tend to be fresher than the dried coconut found at the supermarket. Some coconut at the supermarket may also be 'de-fatted', meaning the fat has been removed, as much as you try you won't get coconut butter. If buying supermarket coconut check that it looks fresh and a little moist. If in doubt I know the Ceres coconut works perfectly and you can often buy it in the bulk bins at organic stores for a good price.