Beat eggs, vanilla, almond extract, and sugar until foamy.
In bread maker, add flour, butter, milk, cream, and yeast. Add egg mixture and set bread maker to dough setting. (You may also mix all in mixer and then knead by hand until dough is smooth and elastic, then rise 1 hour in a warm place, but I find the bread maker makes a much smoother, more even dough and the malasadas are much lighter, tastier, and prettier with the bread maker dough setting. Plus, it's easier! A lot of time goes into the frying and filling steps later, so it's good to save your energy when you can!)
When mixed, the dough should not be sticky (add a bit of flour if needed), and it shouldn't be too firm or dry. It should be lovely, soft, and smooth, much like a roll dough. (While you're waiting for the dough to rise in the bread machine, it is a good time to make your filling and set it in the fridge to cool.)
When dough has risen once, punch down and roll out to about 3/4" thick, then use a 3" biscuit cutter to make flat rounds out of the dough. Place on greased parchment and let rise in warm place until doubled (about one hour).
Using tongs, fry in 3" of vegetable oil at 360 degrees for 1-1/2 to 2 minutes per side, watching to achieve desired browning. Remove and roll in plain granulated sugar.
I use both a coconut and a chocolate custard filling, made from the same batch. Simply cook, then divide in half and add coconut to one and milk chocolate chips to the other, stir each until combined, and cool before placing in a pastry bag for piping into the malasadas.
Stir together sugar, cornstarch, and salt in a pan. In a bowl, whisk the milk, cream, and yolks. Add the egg mixture to the pan. Cook over low heat, stirring constantly, until the mixture comes to a boil. Boil for 1 minute, then remove from the heat. Add the butter and vanilla, then divide mixture in half.
Add coconut (or coconut extract) to one half and chocolate chips to the other half. Mix until combined. Cool in refrigerator until set, then place into pastry bags for filling the malasadas.
Poke a chopstick in the side of each malasada and gently move it back and forth to create a void inside the donut but only a small hole on the outside. Pipe the filling into hole to fill the finished donuts (it helps to have them sitting on their sides for this).
Once they're filled, grab some friends and enjoy an ono treat!