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Preheat the oven to 350°F (175°C). Grease and flour a 9x13 inch baking pan.
In a large bowl, combine the cake mix, eggs, oil, and water according to the package instructions. Pour the batter into the prepared pan.
Bake for 25-30 minutes, or until a toothpick inserted into the center comes out clean.
While the cake is baking, mix the sweetened condensed milk and coconut milk in a bowl.
Remove the cake from the oven, and while still hot, poke holes all over the top of the cake using the handle of a wooden spoon.
Pour the milk mixture over the hot cake, allowing it to soak into the holes.
Sprinkle the shredded coconut over the soaked cake.
In another bowl, whip the heavy cream with powdered sugar until stiff peaks form. Spread over the cooled cake.
Refrigerate for at least 4 hours, or overnight, before serving
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