Preheat the oven to 350F. Prepare two 8" round springform pans by greasing it with butter.

In an electric mixer with a paddle attachment, cream together the butter and sugar on medium speed until combined. Stream in the vanilla extract, coconut extract, egg whites, and yolks. Scrape the bowl to ensure it's well combined.

In a separate bowl, sift together the cake flour, baking powder, and salt.

With the mixer on low, alternately add the dries and coconut milk in two to three additions.

Finally, fold in the shredded coconut. Pour the batter equally into the two prepared pans. Bake for 45 minutes or until a toothpick comes out clean when inserted in the center of the cakes.Let it cool for 10 minutes and unmold.

To prepare the coconut cream, combine your sugar and egg whites in a mixer bowl and place it over a small pot of simmering water. Whisk constantly to help dissolve the sugar and the mixture reaches 120F. Transfer the bowl to the stand mixer and whisk on high speed until shiny and thick. This mixture should be lukewarm at this point.

Reduce the speed to medium and add the vanilla extract. Add the softened butter in 4 additions. It helps to add the butter in small pieces. Slowly stream in the milk and mix on medium high speed for a few more minutes until combined.

To assemble the cake, place one of the cake rounds on a cake stand. Level the cake with a serrated knife if your it developed a dome while baking. Place 1/3 of the buttercream on top of the cake and spread it with an offset spatula. Place the second cake round on top with the flat bottom as the top. Spread the rest of the buttercream over the cake. It doesn't have to be perfect!

Finish the cake by covering it with shredded coconut.

To prepare the chocolate sauce, heat the heavy cream, corn syrup, and sugar in a saucepan. When it comes to a simmer, pour the cream over the chopped chocolate and stir until melted and combined.