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Preheat the oven to 350°F. Grease and flour a 15-cup Bundt pan.
In a large bowl, combine flour, salt, and baking powder. Set aside.
In the bowl of an electric mixer, cream the sugar and butter together on medium speed for about 5 minutes. Add the eggs, 1 at a time, beating well after each addition. Add sour cream, vanilla extract, and coconut extract. Beat until combined.
Add flour mixture and mix until just combined; fold in flaked coconut and white chocolate chips.
Pour batter into the prepared pan and use the back of a spoon to spread the batter evenly.
Bake in the preheated oven until a toothpick inserted into the center of the cake comes out clean, about 1 hour 25 minutes. Allow cake to cool in the pan for 20 minutes before removing to a wire rack to cool completely.
To make the frosting, add cream cheese, butter, vanilla, and salt to a medium bowl. Beat with an electric mixer until smooth. Gradually add powdered sugar and slowly mix until incorporated. Add cream and beat until light and fluffy, about 1 or 2 minutes.
Frost the top and sides of the cake. Lightly press the flaked coconut evenly around the outside.