• Preheat the oven to 350 degrees Fahrenheit and spray a 9 x 13-inch baking pan with nonstick cooking spray and set aside.
• Add 1 cup softened unsalted butter and 1 ½ cup granulated sugar to the bowl of a stand mixer and beat with the paddle attachment at medium-high speed until light and fluffy, about 3 minutes. Add 1 cup cream of coconut and beat until smooth, scraping down the sides and bottom of the bowl as needed.
• Add in 4 large room temperature eggs one at a time, mixing until fully incorporated before adding the next egg. Add ½ teaspoon coconut extract, ½ teaspoon lemon extract, 1 tablespoon lemon zest, and 2 ½ cups all-purpose flour and mix on medium-low until combined.
• Sift together 2 ½ cups all-purpose flour, 2 teaspoons baking powder, ½ teaspoon baking soda, and ½ teaspoon salt in a separate bowl. In 2-3 additions, add the flour mixture into the sugar mixture until combined. Beat on medium for 2 minutes, then fold in 1 cup shredded sweetened coconut by hand.
• Pour the batter into the prepared pan and bake for 35-40 minutes, or until a toothpick comes out clean from the center of the cake and the cake springs back when pressed.
• Allow the cake to cool completely before frosting.

Frosting

• Add ½ cup softened unsalted butter to the bowl of a stand mixer and beat with the paddle attachment until light and fluffy, about 2-3 minutes. Add 4 cups powdered sugar and mix on low speed until combined.
• Add 2 tablespoons lemon juice, 1 tablespoon lemon zest, and 3 tablespoons milk and mix on medium speed until smooth and combined, scraping down the sides and bottom of the bowl as needed.
• Spread the frosting evenly over the top of the cooled cake and top with 1 cup toasted shredded sweetened coconut before serving.