Preheat oven to 350 F
Set aside the glaze packet.In a large mixing bowl, combine eggs, oil and water and whisk to blend.
Add cake mix and coconut to the wet ingredients and stir to continue. If desired, reserve some of the coconut for topping the doughnuts.Pour batter into a greased doughnut mold. Bake for 20 minutes.
Cool slightly before removing from the mold.To make the glaze, whisk the glaze mix with 1 Tbsp milk or water and add additional, if needed, to desired consistency. Drizzle over cooled doughnuts and let stand to firm up.
Top with reserved coconut if desired.