Bring the milk, 1/2 cup sugar, and almond extract to a boil. Let boil slowly for about 15 minutes.
In the meantime, cut the bread into slices. Lay on a flat dish, and pour the milk mixture over the slices. Let sit for about 15-20 minutes. Pour enough liquid that the slices are wet but do not break apart.
Heat the extra virgin olive oil in a shallow pan on the stove. You know that the oil is ready for frying when you stick a chopstick in the oil and bubbles form around the wood.
Beat the eggs in a separate bowl and then dip the bread pieces into the eggs. Fry the slices in the oil about four at a time, making sure to cook both sides. Leave slices to rest on paper towel to absorb extra liquid.
Mix the remaining sugar (1/2 cup) with cinnamon, and roll slices in the cinnamon sugar combination.
Now make the syrup. Put the remaining cinnamon sugar mixture into a pot and add extra sugar to cover the bottom of the pot. Pour about 2 cups water into the pot and bring to a boil. Once boiling, add 1 tsp of almond extract to the combination.
Simmer for about 30 minutes, allowing the mixture to thicken. Once ready, pour over the torrijas slices, giving them a generous amount of syrup.
Top slices with shredded coconut.
Let slices cool completely before refrigerating them, and then let rest in the fridge for about four hours before enjoying.