Preheat oven to 325°. Spray 2 (9-inch) round cake pans with baking spray with flour. Line pans with parchment paper; spray parchment with baking spray.
In a large bowl, beat butter and sugar with a mixer at medium-high speed until fluffy, 4 to 5 minutes, stopping occasionally to scrape sides of bowl.
In a medium bowl, sift together flour, baking powder, baking soda, and salt. In another medium bowl, whisk together eggs, sour cream, and extracts. With mixer on low, add flour mixture to butter mixture alternately with egg mixture, beginning and ending with flour mixture, beating just until combined after each addition. Pour batter into prepared pans.
Bake until a wooden pick inserted in center comes out clean, about 25 minutes. Let cool in pans for 10 minutes. Remove from pans, gently remove parchment, and let cool completely on wire racks.
Spread Coconut Cream Frosting on top and sides of cake. Press 1½ cups coconut on top and sides of cake; sprinkle toasted coconut on top of cake. Cover and refrigerate for up to 3 days.
Recipe by Paula Deen Magazine at https://pauladeenmagazine.com/classic-coconut-cake-recipe/