1Preheat oven to 350°F. I use crisco to coat and flour three 8-inch-diameter cake pans.
2Whisk flour, baking powder, baking soda and 1/2 teaspoon salt in medium bowl to blend.
Using electric mixer, beat sugar, butter and sweetened cream of coconut in large bowl until fluffy. Beat in egg yolks and vanilla extract. On low speed, beat in dry ingredients and then buttermilk, each just until blended.
Using clean dry beaters, beat egg whites with pinch of salt in another large bowl until stiff but not dry. Fold beaten egg whites into batter.
3Divide cake batter between 3 prepared pans. Bake cakes until tester inserted into center comes out clean, about 35 to 45 minutes (depending on your oven). Turn cakes out onto racks and cool completely.
Place 1 cake layer on cake plate. Spread 1 cup Cream Cheese Frosting over cake layer. Sprinkle 1 cup sweetened shredded coconut over. Top with second and third cake layer. Spread remaining frosting over top and sides of cake. Sprinkle remaining toasted coconut over cake, gently pressing into sides to adhere.