Preheat your oven to 350°F (175°C). Grease and flour a 9x13-inch baking pan or line it with parchment.

In a large bowl, combine the white cake mix, 1 cup water, 3 eggs, 1/3 cup vegetable oil, and 1/2 teaspoon coconut extract. Whisk until smooth and no large lumps remain.

Pour the batter into the prepared pan and spread evenly. Bake for 25-30 minutes, or until a toothpick inserted in the center comes out clean.

Let the cake cool in the pan for about 10 minutes. It should still be warm when you add the soak so it absorbs well.

Gently warm the sweetened cream of coconut and sweetened condensed milk together in a saucepan over low heat, stirring until combined. Remove from heat.

Use the handle of a wooden spoon to poke holes across the cake surface. Slowly pour the warm coconut-condensed mixture evenly over the cake, letting it sink in.

Cover the pan with plastic wrap and refrigerate at least 3 hours, preferably overnight, so the cake becomes custardy.

Just before serving, whip 1 cup heavy cream with 1 tablespoon sugar to soft peaks. Spread over the chilled cake.

Sprinkle 1 cup flaked coconut over the whipped cream. Optionally toast flakes first for added flavor.