In a small saucepan over medium high heat, whisk together the coconut milk, sugar, corn starch, and vanilla. Add coconut extract and salt, if using.
Bring to a boil, then reduce heat to as low as it will go and simmer for about 15 minutes, stirring occasionally to ensure everything stays smooth. Syrup will thicken more as it cools.
Notes
Makes enough syrup for about 12 medium sized pancakes.