In a medium saucepan over medium heat, combine the Cashewmilk and the coconut milk. Once warm, add the chocolate and sugar. Whisk continuously until the chocolate is melted and the mixture is smooth. Serve warm.
For the whipped cream
In a medium bowl, beat the cream until soft peaks start to form. Gradually beat in the powdered sugar. Beat in the coconut extract, and continue to beat until stiff peaks form. Serve the whipped cream on top of the hot chocolate, garnished with toasted coconut.
Notes
I used semi sweet chocolate chips and it worked just fine. But the higher quality of chocolate you use, the better it will taste!