Preheat oven to 325°F (165°C). Do not grease a 10-inch tube pan.

In a large bowl, whisk together cake flour, 1 cup of sugar, baking powder, and salt. In a separate bowl, whisk coconut milk, oil, and extracts. Pour wet ingredients into dry and mix until smooth.

In a stand mixer, beat 8 egg whites until foamy. Add cream of tartar, then gradually beat in the remaining ½ cup of sugar. Beat on high until stiff, glossy peaks form.

Gently fold the egg whites into the cake batter in three additions until no streaks remain.

Pour batter into the ungreased tube pan and bake for 55-65 minutes, or until a skewer comes out clean.

Immediately invert the pan and let the cake cool completely upside down for at least 1.5 hours.

To make the frosting, whisk 4 egg whites, sugar, water, and cream of tartar in a heatproof bowl over simmering water until hot. Then, beat in a stand mixer on high speed until stiff, glossy peaks form. Mix in vanilla.

Once cool, remove the cake from the pan. Frost the cake and press shredded coconut onto the frosting.