Preheat oven to 350 F and line pans with cupcake liners.
Sift cake mix into small bowl; set aside.
In large bowl, gently whisk egg whites, oil, coconut milk, sour cream, coconut extract, and vanilla extract.
Add cake mix; stir until well combined.
Fill cupcake liners ¾ full and bake for 17-22 minutes or until knife inserted near center comes out clean.
For cream, beat butter and cream cheese for 2 minutes.
Add coconut extract.
Slowly add powdered sugar until coconut cream is desired consistency.
Pipe onto cooled cupcakes and immediately roll in coconut flakes.