01 - Preheat oven to 350°F. Grease and flour a 9x13-inch pan or two 8-inch round cake pans.
02 - In a large bowl, whisk together flour, sugar, baking soda, and salt until well blended.
03 - In a separate bowl, whisk buttermilk, melted butter, vegetable oil, eggs, vanilla extract, and almond extract until smooth.
04 - Pour wet ingredients into dry ingredients. Mix just until combined, being careful not to overmix.
05 - Fold in shredded coconut and chopped pecans until evenly distributed throughout the batter.
06 - Pour batter into prepared pan(s). Bake for 30-35 minutes until a toothpick inserted in the center comes out clean.
07 - Let cake cool completely in the pan on a wire rack before frosting.
08 - Beat cream cheese and butter until smooth and creamy. Gradually add powdered sugar and vanilla extract, mixing until fluffy. Add milk as needed to achieve spreadable consistency.
09 - Frost the completely cooled cake. Sprinkle with toasted pecans and toasted coconut on top.