Food Network has a good recipe for coconut cake made with sweetened shredded coconut and topped with a coconut frosting. The recipe makes 10 to 12 servings.
To make Food Network's recipe, preheat the oven to 350 degrees Fahrenheit. Grease 3 cake pans, and line with parchment paper. Grease again, dust with flour, and set aside. In an electric mixer, combine 3/4 pound unsalted butter and 2 cups sugar. Add 5 large eggs one a time, and add 1 1/2 teaspoons vanilla extract and 1 1/2 teaspoons almond extract.
In another bowl, combine 3 cups flour, 1 teaspoon baking powder, 1/2 teaspoon baking soda and 1/2 teaspoon kosher salt. Alternate between adding the dry mixture and 1 cup milk to the electric mixer in 3 parts, and add 4 ounces sweetened shredded coconut.
Pour the batter into the greased pans, and bake for 45 to 55 minutes. Cool for 30 minutes, and remove the cakes from the pans to continue cooling. In an electric mixer, combine 1 pound cream cheese, 1/2 pound unsalted butter, 3/4 teaspoon vanilla extract and 1/4 teaspoon almond extract. Add 1 pound sifted powdered sugar.
Place 1 cake layer on a plate, and spread with the frosting. Top with the other layer, and spread the frosting on the top and sides. Sprinkle with 6 ounces sweetened shredded coconut.