In a medium saucepan, combine heavy cream, whole milk, and granulated sugar. Stir over medium heat until the sugar dissolves completely. Add the shredded coconut to the mixture and allow it to simmer for 2-3 minutes to infuse the coconut flavor.
Remove from heat and allow the mixture to cool to room temperature.
Once cooled, refrigerate the mixture for at least 2 hours to chill thoroughly.
Once chilled, pour the mixture into an ice cream maker and churn according to the manufacturer’s instructions (usually 20-25 minutes).
During the last few minutes of churning, gently fold in the toasted almonds and semi-sweet chocolate chips.
Transfer the churned ice cream into an airtight container and freeze for at least 4 hours or overnight to set completely.
Serve scoops of ice cream in bowls, cones, or sundaes, and enjoy!