For the Coconut Cake:
Preheat oven to 350 degrees (F). Generously grease the bottom and sides of three 9-inch round cake pans; line with parchment paper rounds and set aside until needed.
In a large mixing bowl, sift together the flour, baking powder, baking soda, and salt. Set aside.
In the bowl of a stand mixer fitted with the paddle attachment, or in a large bowl using a handheld electric mixer, beat the butter on medium-high speed until smooth and creamy, about 1 minute.
Gradually add in the sugar. Once all of the sugar has been added, beat on high speed for 2 minutes. or until light and fluffy.
Beat in the vanilla extract, coconut extract, and almond extract.
Reduce the speed to low and add in the beaten egg whites, in three additions, beating well after each addition, and scraping down the sides and bottom of the bowl frequently.
In a spouted measuring cup, combine the coconut milk and sour cream. Mix until evenly combined.
On low speed, add the flour mixture in three additions, alternating it with the coconut milk/sour cream mixture, beginning and ending with the flour, and mixing until just combined.
Add in the oil and beat until just combined. Using a rubber spatula, fold in the coconut, mixing just until combined.
Divide the batter evenly among the prepared pans and smooth the tops. It should be around 510 grams of batter per pan.
Bake for 20 minutes, or until lightly brown around the edges and a toothpick inserted in the center of the cakes comes out clean.
Cool the cakes in the pans places on a wire rack for 20 minutes. Then invert the cake layers onto cooling racks and cool completely.
For the Cream Cheese Frosting:
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