Preheat the oven to 350°F. Grease and flour a 13 x 9 x 2 inch non stick metal pan or spray with baking spray.
For the cake: Prepare the cake per the directions on the box, plus ½ cup self-rising flour. Mix in ½ of the 7 oz bag of sweetened flaked coconut into the batter by hand.
Bake per the directions until the top is golden and a toothpick inserted into the center comes back clean.
For the coconut cream filling: After removing the cake from the oven use a fork or bamboo skewer to poke holes over the top of the hot cake.
In a small mixing bowl, whisk together the cream of coconut with the sweetened condensed milk. Slowly pour over the hot cake, spreading the coconut milk into the holes as you go. Allow the cake to cool completely. Chill overnight.
For the frosting: beat together the heavy cream, powdered sugar, softened cream cheese and vanilla extract. until light and fluffy. Spread over the top of the cake..
Toss together the remaining sweetened flaked coconut with the thawed fresh coconut. Sprinkle evenly over the frosting.
Chill for 1 more day before serving.