Line a baking dish with parchment paper and set aside.
In a mixing bowl, combine shredded coconut, sweetened condensed milk, and vanilla extract until fully mixed.
Press the coconut mixture firmly into the prepared dish, creating an even layer.
Refrigerate for at least 1 hour, until firm.
Melt dark chocolate chips with coconut oil over low heat or in the microwave, stirring until smooth.
Cut the chilled coconut mixture into bars.
Dip each bar into the melted chocolate, coating evenly.
Place bars back onto parchment paper and refrigerate until chocolate is set.
Serve chilled or at room temperature.