Preheat oven to 325 degrees. Spray a 12-cup Bundt pan or tube pan with baking spray with flour.
Use an electric stand mixer with the paddle attachment to beat the butter and cream cheese for 2 minutes.
With mixer on medium speed, gradually add the sugar, beating for 5 to 7 minutes.
Add eggs one at a time, beating just until the yellow disappears.
Combine the flour, baking soda, and salt and add to butter mixture, beating at LOW speed just until blended.
Stir in shredded coconut, vanilla extract, and coconut extract.
Transfer batter to prepared pan and bake for 1 hour 30 minutes or until a wooden toothpick inserted in center comes out clean.
Cool in pan for 10 minutes and then remove from pan.