In a medium bowl, stir cream cheese with a spoon until soft. Add 1/2 cup Cool Whip Free and coconut extract. Mix gently to combine. Set aside. In a large bowl, combine pumpkin, dry pudding mix, dry milk powder, and water. Mix well using a wire whisk. Blend in pumpkin pie spice and remaining 1/4 cup Cool Whip Free. Spread half of mixture into piecrust. Evenly spread cream cheese mixture over pumpkin layer, and spread remaining pumpkin mixture over cream cheese mixture. Sprinkle coconut and pecans evenly over top. Refrigerate for at least 2 hours. Cut into 8 servings.