Line a baking sheet with parchment paper and set aside.

Add the peanut butter, butter, sugar, milk, and chocolate chips to a medium pot over medium heat. Stir constantly until the mixture is completely melted and smooth.

Remove from heat and stir in the vanilla extract. Fold in the oats and coconut shreds until fully coated in the chocolate mixture.

Using a 2 tablespoon cookie scoop, scoop the mixture onto the prepared baking sheet. If desired, press extra coconut shreds on top before freezing.

Freeze for 1 hour, or until the cookies lift cleanly off the parchment paper.

Enjoy straight from the freezer or let sit at room temperature for a few minutes for a softer texture.