Drain and rinse cashews.
In your vitamix or high speed blender, combine cashews and avocado flesh.
Blend on low until the mixture starts to break down.
Turn off blender and add in maple syrup, cacao powder, and peanut butter. Use the tamper to blend until completely combined. Stop blender and scrape down sides as needed.
While blender is on low, slowly pour in the melted coconut oil to emulsify mixture. Blend on high, stopping & scraping down as needed, until mixture is creamy and resembles a fudgy icing.
*If you haven't reached the right consistency, add in a splash more of melted coconut oil and maple syrup until you reach your desired consistency.
*Make icing the day of and ice cupcakes before serving. Store at room temp until ready to serve. Do NOT make icing a day ahead of time as the consistency and flavor will change.