Preheat the oven to 350 degrees F and spray a 9 inch spring form pan with non-stick spray and set aside. You can also make this cake in a 10 inch Bundt Cake pan.

In a small bowl, mix together the flour, baking powder, salt and set aside.

In the bowl of your electric mixer (or with a hand mixer), beat together the  butter, sugar and coconut oil until light and fluffy. Add the eggs one at a time, vanilla extract and continue to mix until all the ingredients are well incorporated.

Pour the buttermilk and beat until combined. Slowly add the dry ingredients and mix it all together until it’s incorporated. Gently fold in the shredded coconut.

Pour the batter into the prepared pan and bake until a toothpick inserted in the middle comes out clean, for about 45 minutes.  Allow the cake to cool completely before frosting.

For the frosting, in the bowl of an electric mixer fitted with a paddle attachment, beat cream cheese, butter and vanilla extract until well blended. Slowly add powered sugar and continue to mix until smooth.

Once the cake has completely cooled, spread the top and the sides of the cake with frosting, and top it with flaked coconut.