Preheat oven to 350 degrees. Test each of the three eyes at stem end of coconut to see which is the softest. Then use an ice pick (or a screwdriver) and a hammer to pierce two of the eyes. Strain water through a fine sieve into a bowl; reserve for another use or discard.
Place coconut on a rimmed baking sheet; bake for 30 minutes, or until coconut shell begins to crack. Set aside until cool enough to handle.
Wrap coconut in a clean kitchen towel; holding coconut with one hand, hit it with a hammer in the same place several times to crack the outer shell and split the coconut into several large pieces.
Separate coconut flesh from shell, and use a vegetable peeler to remove the dark outer skin, if desired. Rinse and dry coconut. Using a mandoline or a vegetable peeler, remove strips from edges.
Divide coconut strips between 2 rimmed baking sheets in a single layer; season with salt. Bake until toasted, about 10 minutes.