In a large mixing bowl, beat butter, coconut oil, and sugar till creamy. Add eggs, sour cream, and coconut and vanilla extracts. Beat for 2-3 minutes. Add flour, baking powder, soda, and salt. Stir into creamed mixture. Add coconut and mix well.
Pour into a well greased and floured 12 cup Bundt pan. (I like to use Baker's Joy.)
Bake at 350° for 55-60 minutes or until a toothpick comes out clean. Let cool in pan for 10 minutes.
Combine glaze ingredients in a small saucepan and heat just till sugar melts. Brush over the bottom of the cake while it is still in the pan. Invert cake onto a cooling rack, and brush remaining glaze over all sides of the cake. Cool completely.
Whisk together icing ingredients till smooth, adding enough coconut milk till you get a consistency like heavy cream. Drizzle over the cake and sprinkle with toasted coconut.