To prep the coconut milk, add the entire can of coconut milk (cream and water) into the bowl of a stand mixer. Mix until smooth. Transfer to a glass jar to set aside.

Preheat oven to 350F. Butter and line the bottoms with parchment paper three 8" cake pans.

In a mixing bowl, combine the flour, baking powder, baking soda, and salt. Mix well. Set aside.

In the same bowl of the stand mixer fitted with the whisk attachment, beat the softened butter and sugar for 2 minutes.

Add the eggs and egg whites. Beat until doubled in volume, about 1-2 minutes.

Add the sour cream, vanilla extract, and coconut extract. Mix well.

Add 1 cup of the coconut milk and shredded coconut. Mix until smooth.

Add the flour mixture and mix JUST until combined. Be careful not to over mix the batter.

Evenly divide the cake batter between the prepared cake pans.

Bake for 18-22 minutes, until a toothpick inserted into the centers comes out clean.

Let cool 10 minutes in the cake pan, then transfer to a wire baking rack to cool completely before frosting.

Combine the softened butter and cream cheese in the bowl of a stand mixer fitted with the whisk attachment. Beat for 2 minutes.

Add 1 cup powdered sugar, and mix until smooth.

Add an additional cup of powdered sugar and the 3 tablespoons coconut milk. Mix until smooth.

Continue adding an additional cup of powdered sugar (and coconut milk as needed) until a light and fluffy buttercream.

TIP: Beat for an additional 5-6 minutes to create an extra light and airy buttercream.

Mix in the vanilla, coconut extract, and shredded coconut.

Using a serrated knife, carefully slice the very tops of each cooled cake so that you have flat cake layers.

Generously brush each cake layer with the remaining coconut milk.

Add ½ - ¾ cup coconut buttercream between each cake layer, using an offset spatula to help spread it out evenly.

Frost the remainder of the cake, then decorate with shredded coconut to enjoy!