Prepare 3 9-inch cake pans with shortening and flour.
Combine flour, baking powder, baking soda, and salt with a whisk in a large bowl. Set aside.
Cream butter until fluffy and then add sugar. Cream together for about 8 more minutes.
Add eggs, 1 at a time, and cream together after each.
Add flour mixture and buttermilk, alternately, beginning and ending with flour. Combine each addition of flour and then turn mixer on high to add air into the batter.
Add vanilla and beat well. Turn mixer on high once vanilla has been incorporated for about 10 seconds to lighten batter.
Turn out of pans onto cooling racks and allow to cool completely.
Southern Coconut Frosting
Whip butter until it reaches light and fluffy stage.
Slowly add sugar, beating well after each addition.
When all sugar has been incorporated, the butter and sugar will look like crumbles.
With mixer set on low speed, add in milk.
Then, beat on high speed for few minutes.
Add vanilla and coconut flavorings and beat on high speed until the frosting reaches a spreading consistency.
If it is too dry, add milk a few drops at a time.
If it is too wet, add powdered sugar a few sprinkles at a time until it reaches the correct consistency.
Frost cake and then sprinkle with coconut flakes.
Notes
Store: You can store this coconut cake in the refrigerator for up to one week. Freeze: To freeze the cake before frosting, wrap each layer in plastic wrap, then in an airtight freezer-safe container and freeze for up to 3 months. To freeze after frosting, place the cake on a baking sheet or tray and place it in the freezer for about 4 hours. Once the cake has frozen, wrap in airtight freezer wrap or place in a freezer-safe container and freeze up to 3 months.