Preheat your oven to 350 degrees.
Prepare two 9-inch round cake pans lining them with parchment paper, greasing them, and lightly dusting them with flour.
Cream the butter and sugar with an electric mixer using a paddle attachment on medium-high speed.
Mix for 3 to 5 minutes until they turn light yellow and fluffy.
Add the eggs one at a time with the mixer still on medium speed, scraping down the bowl once during mixing.
Add the vanilla and almond extracts and mix well. Don't worry if the mixture appears curdled.
Sift together the flour, baking powder, baking soda, and salt in a separate bowl.
Add the dry ingredients (mixed together in step 7) and the milk to the batter with the mixer on low speed in the following way: i) 1/3 milk ii) 1/3 dry ingredients iii) 1/3 milk iv) 1/3 dry ingredients v) 1/3 milk vi) 1/3 dry ingredients.
Mix until combined.
Fold in the coconut using a rubber spatula.
Pour the batter into the pans and smooth the tops with a knife.
Bake in the oven for 45 to 55 minutes until the tops turn brown and a knife comes out clean.
Set aside the cakes for 30 minutes.
Turn them out onto a wiring rack to finish cooling.