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Pineapple Coconut Loaves

1 (18.25 ounce) box yellow cake mix with pudding added
1 cup undiluted evaporated milk
1 (8 ounce) can crushed pineapple and juice
2 eggs
1/2 teaspoon nutmeg
1/2 cup flake coconut

Combine cake mix, evaporated milk, crushed pineapple and juice, eggs, and nutmeg in large mixer bowl. Beat on lowest speed, just until moistened.

Beat on highest speed 2 minutes. Stir in coconut. Spoon into two buttered 8 1/2 x 4 1/2 x 2 1/2-inch loaf pans.

Bake in slow oven (325 degrees F) for 45 to 50 minutes, or until golden brown and wooden pick inserted in center comes out clean.

Cool on wire racks 15 minutes. Remove from loaf pans. Cool completely.

Glaze: Stir together 1 1/2 cups sifted confectioners' sugar and 1 to 2 tablespoons water until smooth. Drizzle over loaves. Sprinkle 2 tablespoons toasted coconut over glaze.