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Preheat the oven to 350 degrees
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Grease 2 (9-inch) round cake pans, then line them parchment paper. Grease them again and dust lightly with flour.
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Using a hand mixer, mix the softened butter and sugar for 3-5 minutes
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Crack all 5 eggs in small bowl and add to the mixing bowl one at a time
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Add the vanilla and almond extract and continue to mix with mixer
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In a separate bowl, sift together the flour, baking powder, baking soda and salt.
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Add the flour mixture and the milk to the batter in 3 parts. Start with half the flour mixture, then add milk then the remaining flour mixture
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Fold in the shredded coconut
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Pour the batter evenly into the 2 baking pans
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Bake for 45 minutes until the top is slightly brown and the toothpick tester comes out clean
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Cool in the pan for 30 minutes, remove and cool the rest on a baking rack