Coconut Layer Cake with Cream Cheese Frosting

Prepare Cake Layers: Preheat oven to 325 degrees F. Grease three 8" round cake pans. Line bottoms of pans with parchment paper; grease parchment. In large bowl, whisk flour, baking powder, salt, and baking soda. In another large bowl, with mixer on low speed, beat butter and sugar until blended. Increase speed to high; beat until light and fluffy. Reduce speed to medium-low; add eggs one at a time, beating well after each addition and scraping bowl with rubber spatula. Beat in vanilla. In separate bowl, whisk cream of coconut and buttermilk. On low speed, add flour mixture alternately with coconut mixture, beginning and ending with flour mixture, occasionally scraping bowl with spatula. Beat just until blended. Divide evenly among prepared pans. Bake until toothpick inserted in centers comes out clean, 35 to 40 minutes. Cool in pans on wire racks 10 minutes. Run small knife around side of each layer; invert onto racks. Cool completely. Layers can be made up to 1 day ahead; wrap well and store at room temperature. Prepare Cream Cheese Frosting: In large bowl, with mixer on low speed, beat cream cheese and butter until smooth. Beat in vanilla and salt until incorporated. Gradually beat in confectioners’ sugar. Increase speed to medium and beat until fluffy. Assemble cake: Place 1 cake layer on cake plate, flat side up. Spread with 3 ⁄4 cup frosting and top with another cake layer, flat side up. Spread with 3 ⁄4 cup frosting. Top with remaining cake layer, flat side up. Lightly frost side and top of cake with frosting to barely coat. Refrigerate assembled cake and remaining frosting at least 1 hour. Frost top and side of cake with remaining frosting. Cover top and side of cake with coconut flakes. Cake can be refrigerated up to 6 hours. (Cover loosely with plastic wrap.) To serve, let stand at room temperature 1 hour.