Preheat oven to 350 degrees F (175 degrees C). Grease 2 loaf pans with cooking spray.
Combine sugar and butter in a large bowl; beat with an electric mixer until creamy. Beat in coconut milk and eggs.
Mix all-purpose flour, almond flour, baking powder, and cinnamon together in a bowl. Stir into the butter mixture until batter is thoroughly blended. Fold in coconut and raisins.
Divide batter evenly between the greased loaf pans.
Bake in the preheated oven until a toothpick inserted into the center comes out clean, about 1 hour. Cool completely before slicing, about 30 minutes.
