Preheat oven to 325° F. Line two 8-9" round baking pans* with parchment paper and spray well with nonstick cooking spray. Set aside.
In a large bowl, whisk flour, baking powder, baking soda, and salt together to combine. Set aside.
In a liquid measuring cup, stir buttermilk and vanilla extract together. Set aside.
In a separate large bowl, using an electric hand mixer or a stand mixer, mix butter, oil, and sugar together until combined.
Mix in eggs and egg whites, one at a time, until the mixture becomes very light and fluffy. This process should take at least 3 minutes. Scrape the sides of the bowl and mix again briefly.
Alternate adding in flour mixture with buttermilk mixture, being sure to start and end with flour. Scrape the sides and mix again to ensure a smooth batter. Fold in coconut by hand.
Divide evenly between baking pans and smooth the top. Bake 30-40 minutes in the lower two thirds of the oven. The cake will be done when a toothpick comes out clean or mostly clean with a few moist crumbs.
Cool 15-20 minutes in cake pans before trying to invert on cooling racks. Cool completely before frosting and decorating.
for the frosting-
In a large mixing bowl, using an electric hand mixer or stand mixer, cream butter and cream cheese together with the paddle attachment until smooth. Scrape sides and mix again.
Add in powdered sugar with vanilla extract and coconut extract and mix very slowly until it starts to come together.
Once the powdered sugar has worked in, increase the mixer speed and whip until completely smooth, about 1 minute.
Scrape the sides and bottom of the bowl to ensure a completely smooth frosting. Stir again if needed.
assembly-
Using a serrated bread knife, slice each completely cooled cake in half lengthwise to get four even layers.
Place one layer down on a cake stand and top with 3/4-1 cup of frosting. Spread evenly, pushing the frosting out towards the edges.
Continue stacking the layers of cake with frosting together until all four layers are stacked up together with frosting in between.
With remaining frosting, complete frosting the cake. I like to add large dollops of frosting to the top and spread across to cover and then push excess down the sides. It's easier to pull frosting off with an offset spatula...less crumbs that way!
Once the cake is frosted, using the palms of your hands, coat the cake entirely with coconut, about 2 cups.
Refrigerate until ready to slice and serve.
Video
Notes
Recipe will make:
1- 9x13 cake (bake for 30-45 minutes)
2- 8 or 9-inch round cakes (30-40 minutes)
24 cupcakes (bake for 18-20 minutes)
Regardless of how you bake this cake recipe, be sure to use lighter-colored baking pans (or glass). Using a darker pan will give you darker, crispier edges that don't really have a place in coconut cake, in my humble opinion.
Make-Ahead + Storage Directions
To save you time and from worrying, I've outlined how you can make a perfect Coconut Cake ahead of time!Once your cake has been baked, cooled and cut into layers, cover them tightly with plastic wrap and store at room temperature overnight. Prepare the frosting then cover and store in the fridge overnight as well. When you are ready to assemble and decorate, set the frosting out at room temperature to soften for about 15 minutes. Give it a quick mix to loosen it up in your mixer for about a minute, then frost away!To Freeze: If you want to make this cake even farther ahead of time, consider freezing it! Frosted or unfrosted cake layers can be frozen up to 3 months. To thaw, transfer from the freezer to the fridge overnight and then bring to room temperature before decorating or serving.