Preheat oven to 350 degrees
Cream butter and sugar in a large bowl with an electric mixer until light and fluffy
Add egg and vanilla and mix well
In another bowl, whisk together flour and baking powder
Slowly add flour mixture to the wet mixture
Fold in the coconut and oats and mix well
Press 2/3 of the dough onto the bottom of a greased 13x9 inch baking pan
Spread evenly with the apricot preserves
Crumble reserved dough over the top of the preserves
Bake for about 40 minutes or until golden brown
Cool completely and cut into bars