Preheat your oven to 350°F and grease a standard loaf pan with coconut oil or cooking spray, making sure to coat the bottom and all sides evenly. This ensures your bread will release easily after baking.

In a large bowl, mash the ripe bananas with a fork until mostly smooth with just a few small lumps remaining—this adds natural moisture and subtle sweetness. Stir in the melted coconut oil, coconut sugar, 1.33 cups of vegan eggnog, and vanilla extract until well combined. The mixture should be creamy and homogeneous. I like to use very ripe bananas here since their natural sweetness means I can use less added sugar, keeping the bread more authentically eggnog-flavored rather than overly sweet.

In a separate bowl, whisk together the all-purpose flour, baking powder, salt, cinnamon, and freshly ground nutmeg. Whisking aerates the flour and distributes the leavening agent evenly throughout, which promotes even rising. I always freshly grate my nutmeg rather than using pre-ground—it makes a noticeable difference in the warmth and depth of flavor in quick breads like this.

Pour the dry ingredient mixture from Step 3 into the wet mixture from Step 2 and stir just until combined—don't overmix. A few flour streaks are perfectly fine; overmixing develops gluten, which makes the bread tough and dense rather than tender and moist. Immediately pour the batter into your prepared loaf pan and smooth the top with a spatula.

Bake for 40 to 60 minutes, or until a toothpick inserted into the center comes out clean or with just a few moist crumbs. The top should be golden brown. Baking time varies based on your oven, so start checking around 40 minutes to avoid overbaking, which dries out the bread.

Remove the bread from the oven and let it cool in the pan for 10 minutes. This allows the crumb structure to set slightly so it won't fall apart when you turn it out. Turn the bread out onto a wire rack and let it cool completely to room temperature before glazing—this prevents the glaze from melting off.

While the bread cools, prepare the glaze by whisking together the sifted powdered sugar with 2 tablespoons of vegan eggnog (the optional ingredient that really does make a difference). Whisk until smooth and pourable, adding a splash more eggnog if needed to reach a drizzle consistency. Once the bread is completely cool, drizzle the glaze over the top, letting it cascade down the sides. The eggnog in the glaze echoes the flavor of the bread and adds a beautiful finishing touch that ties the whole dish together.