Preheat oven to 350 degrees and grease two 9-inch round cake pans. Set aside.
CAKE: Sift flour, cinnamon, baking powder, baking soda and salt in a medium bowl. Set aside.
In a large bowl mix together sugar, oil and eggs with a hand mixer on low speed until well blended. Mix in the dry ingredients just until blended. Fold in the carrots and coconut.
Divide batter evenly into the prepared pans. Bake 35 to 45 minutes, until a toothpick inserted in center comes out clean.
Cool pans on a wire rack for 10 minutes. Loosen the cake edges with a knife. Carefully invert each layer by placing another rack directly over the layer and turning upside down. Tap on the pan to loosen the cake onto rack. Cool cakes completely on the racks. Meanwhile, make frosting.
ALMOND-SCENTED CREAM CHEESE FROSTING
Sift the powdered sugar into a large bowl. Add the cream cheese, butter, vanilla and almond extract. Beat with a hand mixer until well-blended and smooth enough to frost cake with. Avoid over-beating, which may make frosting too soft.
TO FROST CAKE: Place one layer top side down on a cake plate/platter. Spread top with a quarter of the frosting. Place second layer on top, top-side down. Frost top and sides with remaining frosting. Serve! Cover and store leftover cake in the refrigerator.