Preheat the oven according to the directions on your boxed cake mix.
Spray a 9x13 pan with nonstick spray.
Mix together your dry cake mix, water, oil, and eggs, as called for on the boxed cake mix.
Spread your cake batter into the prepared pan.
Bake according to the package directions. (My cake baked at 350 degrees Fahrenheit for 23 minutes.)
Allow the cake to cool for about 10 minutes.
Using a fork, or the bottom of a wooden spoon, poke holes all over the top of the cooled cake.
Open the can of Cream of Coconut, empty it into a 2-cup measuring glass and heat it for 15 seconds in the microwave.
Whisk the mixture well and then pour it all over the cake and into the holes.
Allow the cake to continue to cool completely.
Frost the cake with cool whip.
Meanwhile, toast the coconut on an un-greased baking sheet at 350 degrees Fahrenheit for 3 minutes.
Stir it up, and then continue baking and stirring every 30 seconds to 1 minute or until golden brown. Coconut browns and burns quickly, so stay right by the oven, stir it frequently, and watch closely.
Allow the toasted coconut to cool.
Sprinkle the toasted coconut evenly over the top of the whipped cream.
Cut and serve.
Keep leftovers refrigerated.