Open the coconut and pry out the coconut meat. (You can find detailed instructions for choosing a good coconut and how to open the coconut here.)
Using a vegetable peeler, peel off the brown skin from the coconut pieces. (I usually dry out the skin and either munch on it separately or grind it into a powder which is great as an exfoliant for your skin.)
Rinse off and dry the white coconut pieces.
Using your vegetable peeler again, peel off strips of coconut until you have finished making coconut chips with the entire coconut.
Using either your oven or a dehydrator, dry the coconut chips until they are completely dried out. You can tell by trying to break them. If they are still somewhat flexible and hard to break, you should dry them out a little longer. They should easily snap in half.
If you are using your oven, use the lowest heat and the convection setting if you have one.
If you want toasted coconut flakes, you can continue to heat the coconut in either the dehydrator or the oven and they will start to slowly become toasted. They will first start to turn a golden yellow, followed by a darker brown color.
You can quicken the process by turning up the heat a little, but be very careful! Toasted coconut flakes burn very quickly and easily. Once burnt, they don't taste very good.
Store your dried coconut chips in an airtight container.
They are now ready for eating as is or seasoning however you choose.