Combine the shredded coconut, sweetened condensed milk, powdered sugar, salt, and vanilla extract in a large mixing bowl until the mixture is slightly sticky but firm enough to hold shape.
Line a 9×13 inch baking pan with parchment paper, leaving some overhang. Press the coconut mixture firmly and evenly into the pan, creating a layer about 1/2 inch thick.
Place the coconut layer in the refrigerator for at least 2 hours or until firm.
Once chilled, lift the coconut layer out of the pan using the parchment paper. Place on a cutting board and cut into rectangular bars approximately 1 inch by 2 inches.
In a microwave-safe bowl, combine the chocolate chips and coconut oil. Heat in 30-second intervals, stirring between each, until completely melted and smooth (about 1.5-2 minutes total).
Working with a few bars at a time (keeping the rest refrigerated), use two forks to dip each bar into the melted chocolate, ensuring complete coverage. Tap the forks on the edge of the bowl to remove excess chocolate.
Place the dipped bars on a parchment-lined baking sheet. For a professional finish, make small decorative lines across the top with a fork while the chocolate is still wet.
Allow the chocolate to set completely at room temperature (about 1 hour) or expedite the process with 15 minutes in the refrigerator.