Preheat the oven to 350°F. Spread the flaked coconut on a parchment paper lined baking sheet. Toast for 6-8 minutes stirring periodically until golden. Set aside to cool completely.
In a small mixing bowl whisk together the cream of coconut and sweetened condensed milk.
In a separate medium-size mixing bowl use an electric mixer to beat together the pudding mix and half & half until thickened but, still pourable.
Lower the speed of the mixer and beat in the cream cheese. once smooth, fold in 1 cup whipped topping by hand mixing until combined.
To assemble: In a deep 13 x 9-inch baking dish or cake pan layer ⅓ cubed pound cake, drizzle the cake with ⅓ coconut cream drizzle then spread with ½ coconut cream pudding filling.
Repeat ⅓ cubed cake, ⅓ coconut cream drizzle then remaining pudding filling. .
Top with remaining cubed cake and coconut cream drizzle.
Frost the top with the remaining whipped topping.
Refrigerate covered with plastic wrap until serving.
Garnish with the toasted coconut just before serving.