Step 1: Preheat oven to 350 degrees F. Position oven rack to second-lowest position. Generously grease three 9-inch round cake pans (I use my Pan Release recipe posted here on this site).
Step 2: For the cake; in a small bowl mix 1 cup buttermilk with 1 teaspoon baking soda; set aside. In a large bowl cream the butter and shortening with sugar, vanilla and coconut extract until fluffy (about 2 minutes).Add in eggs and the buttermilk/soda mixture; beat until well combined (about 3-4 minutes, there should be no sugar granules remaining).
Step 3: In a small bowl combine the flour with baking powder then add to the creamed mixture; beat until just combined. Mix in 1 cup coconut (a little more won’t hurt).
Step 4: Divide batter evenly between prepared baking pans. Bake in preheated oven for about 30-35 minutes or until the cakes test done.
Step 5: Allow to cool in pans then remove to a wire rack to cool completely.
Step 6: Place 1 cake layer on a plate, then spread 3/4 cup raspberry preserves on top (can use more or less).
Step 7: Place the second cake layer over the top then spread the top of cake layer with remaining 3/4 cup preserves. Top with remaining third cake layer.
Step 8: For the frosting; in a bowl combine the cream cheese with soft butter, light cream and both extracts; beat until combined. Add in confectioners sugar and beat until smooth adding in more cream or confectioners sugar if needed to achieve desired spreading consistancy. Mix in 1 cup coconut. Spread on top and sides of the cooled cake.
Step 9: Sprinkle toasted flaked coconut over the top of the cake (use as much as desired).
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