Preheat your oven to 350°F (175°C) and prepare two 8-inch round cake pans with butter and flour.

In a medium bowl, whisk together the cake flour, baking powder, and salt.

Cream the unsalted butter, vegetable oil, and granulated sugar until light and fluffy.

Add the egg whites one at a time, mixing well after each addition. Then, stir in vanilla and coconut extract.

Alternately add the flour mixture and coconut milk to the creamed mixture, starting and ending with flour.

Divide the batter evenly into the prepared pans and smooth the tops.

Bake for 28-32 minutes until golden brown and a toothpick comes out clean.

While cooling, prepare the frosting by beating heavy cream, powdered sugar, and extracts until stiff peaks form.

Layer the cooled cakes with frosting and toasted coconut, finishing with frosting on top and sides.

Decorate with toasted coconut curls or fresh fruit, if desired.