In the bowl of your mixer combine the cake mix, sour cream, vegetable oil, eggs, coconut extract, and cream of coconut. Mix ingredients together with the paddle attachment on medium speed until completely combined and smooth.
Prepare a 9×13 inch metal baking pan by greasing with a bit of butter and lining the bottom with parchment paper.
Pour the cake batter into the 9×13 inch pan. Place in the oven and bake for approximately 30 minutes at 350°F or until you can put a toothpick in the center and it comes out clean. Remove from the oven and let cool completely.
While the cake cools make the cream cheese frosting. In the clean bowl of your mixer add the softened cream cheese and the powdered sugar. Using the whisk attachment mix together on low speed until well combined. Add the coconut extract and continue mixing. If needed, add the milk 1 teaspoon at a time, mixing well in between each teaspoon, until you reach a smooth, spreadable consistency. See note below.
Once the cake is completely cooked use a knife or a spatula to frost the cake and then top with the shredded coconut. Serve and enjoy!
Notes
The milk may not be necessary, although I added about 1 Tbls. You’ll need to make a judgement call on the consistency of your frosting. You want it to be easily spreadable but not runny.