Preheat the oven to 350 degrees F and grease and flour a 9x5 loaf pan. (1 1/2 quart capacity)
Using an electric mixer, cream the sugar and butter together until light and fluffy. Then add the applesauce, eggs and bananas. Mix until combined.
In a separate bowl, whisk together all the dried ingredients. Slowly beat the dry mixture into the wet.
Add the coconut and chopped nuts. Mix well.
Pour the batter into the loaf pan. Bake for 20 minutes, then lower the temperature to 325 degrees F and bake another 40+ minutes, until a toothpick inserted in the middle comes out clean. Allow the bread to cool for 10 minutes in the pan, then flip it out onto a cooling rack.