Preheat oven to 350 degrees F. Prep two 8-inch cake pans with parchment paper, then grease them and dust with flour.

In medium bowl, whisk together dry ingredients.

In bowl of stand mixer, use paddle attachment to combine wet ingredients on slow speed.

Stop mixer and had half the dry ingredient mixture. Mix on low until just incorporated, then add remaining dry ingredient mixture until just incorporated.

Using rubber spatula, fold in shredded coconut and divide batter between the two prepared pans.

Bake 35-45 minutes or until cakes are golden brown and toothpick comes out clean. Let cool completely.

Add cream cheese, butter, salt and extracts to stand mixer bowl with paddle attachment. Mix on medium-high speed until mixture is combined.

Scrape down sides and bottom of bowl, then slowly add powdered sugar 1 cup at a time. Scrape sides and bottom of bowl again, then mix on high 2-3 minutes or until frosting is light and fluffy.

Transfer to separate container, reserving 1-1/2 cups in mixer. Add ½ cup coconut to mixer and combine to make cake filling.

To assemble, level cakes and spread filling over one layer and top with the other cake. Spread remaining frosting around and on top of cake, then coat with remaining coconut.