Cake: In a large bowl, whisk together flour, baking powder & salt. Set aside. In another large bowl, beat butter & sugar on medium speed until light & fluffy. Beat in eggs, one at a time, beating well after each. Add vanilla & coconut extracts; beat until combined. On low speed, beat in flour mixture in 3 additions, alternating with coconut milk. Beat well after each addition. Fold in chopped coconut. Divide batter equally between prepared pans. Bake in preheated oven for 40 minutes or until toothpick comes out clean. Cool in pans on wire rack for 15 minutes. Remove cake layers from pans & cool completely.