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Adjust oven rack to middle position and preheat oven to 350 degrees F. Grease two* six-cavity doughnut pans with nonstick cooking spray or brush with coconut oil.
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Whisk the coconut flour, cocoa powder, baking powder, nutmeg, and salt together in a medium mixing bowl. Add honey and melted coconut oil. Whisk until smooth. Add the eggs and mix well.
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Spoon batter into prepared pan. Fill each cavity about half full. Lightly tap the pan on the counter to settle the batter.
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Bake until doughnuts are puffy and set, about 12 minutes. Allow doughnuts to cool in the pan and then turn out onto a wire rack.
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When doughnuts are cool, make the glaze.
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Lemon Glaze: Stir together the powdered sugar and lemon juice together in a small mixing bowl. The glaze should be thick but pourable. If it’s too thick, add a little extra lemon juice.
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Chocolate Glaze Stir together the powdered sugar, cocoa powder and coconut milk together in a small mixing bowl. The glaze should be thick but pourable. If it’s too thick, add extra coconut milk, one teaspoon at a time.
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Dip the doughnuts, one at a time, into the glaze. Or you can place a piece of parchment paper under the cooling rack and pour the glaze over each doughnut.
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Doughnuts are best enjoyed the day they are made. Freeze leftovers for up to one month.