Step 1

Make the Coconut Cake: Preheat oven to 400°F. Grease and flour 4 (9-inch) round cake pans.

Step 2

Beat first 7 ingredients at medium speed with an electric mixer until well blended. Add extract,beating well. Add eggs, 1 at a time, beating until blended after each addition. Stir in flaked coconut. Pour batter into prepared pans.

Step 3

Bake at 400°F for 20 minutes or until a wooden pick inserted in center comes out clean. Let cool in pans on wire racks 10 minutes. Remove from pans to wire racks, and cool completely (about 1 hour).

Step 4

Meanwhile, reduce oven temperature to 350°F. Arrange coconut shavings in a single layer in a shallow pan. Bake, stirring occasionally, 8 to 10 minutes or until toasted.

Step 5

Make the Coconut Filling: Cook first 4 ingredients in a large saucepan over medium-low heat, whisking constantly, 12 to 15 minutes or until thickened and bubbly. Remove from heat, and stir in coconut and extracts. Let cool completely (about 30 minutes).

Step 6

Make the Whipped Cream Frosting: Beat all ingredients at high speed with an electric mixer until stiff peaks form.

Step 7

Spread Coconut Filling between layers of cake, leaving a 1-inch border. Spread Whipped Cream Frosting on top and sides of cake. Sprinkle toasted coconut on top of cake, pressing gently to adhere.