Preheat your oven to 325°F (163°C). Generously grease and flour a 12 cup Bundt pan.
Spread 1¾ cups of shredded coconut on a baking sheet and toast for 5 to 7 minutes, stirring once, until fragrant and lightly golden. Remove and toast 1¼ cups of pecans on a separate sheet for 8 to 10 minutes. Let both cool, chop the pecans, and set aside ¼ cup of coconut and ¼ cup of pecans for finishing.
In a large bowl, beat the 1 cup unsalted butter, 8 ounces cream cheese, and 2½ cups granulated sugar together for about 4 to 5 minutes until light and fluffy.
Add the 5 eggs one at a time, beating well after each addition. Mix in the 2 teaspoons vanilla extract and ½ teaspoon almond extract.
In a separate bowl, whisk together the 2½ cups cake flour, 1 teaspoon baking powder, ½ teaspoon baking soda, and ½ teaspoon salt.
Add the dry ingredients to the batter in 3 additions, alternating with the 1 cup buttermilk. Start and finish with the flour mixture.
Fold in the toasted coconut and pecans. The batter will be thick and luxurious looking. As it should be.
Spoon the batter into the prepared Bundt pan and smooth the top. Bake for 1 hour 5 minutes to 1 hour 15 minutes, or until a toothpick inserted into the center comes out clean.
Cool the cake in the pan for 15 minutes before inverting onto a wire rack to cool completely.
For the glaze, beat the 4 ounces cream cheese until smooth. Add the 1½ cups powdered sugar, 2 tablespoons milk, 1 teaspoon vanilla extract, and pinch of salt. Beat until silky smooth. Add another tablespoon of milk if needed for drizzling consistency.
Drizzle the glaze over the cooled cake and finish with the reserved ¼ cup of toasted coconut and ¼ cup of chopped pecans.