Cream Cheese Icing
2 3-ounce packages cream cheese, room temperature
1/2 cup unsalted butter, room temperature
1/2 teaspoon pure vanilla extract
1/4 teaspoon pure almond extract
2 1/2 cups sifted powdered sugar (do not consider skipping the sifting of the powdered sugar or you will have unattractive white lumps in your icing)
Remaining coconut (the rest of a 7-ounce package minus 1 1/3 cups)
In a mixing bowl, beat together the cream cheese, butter, vanilla extract and almond extract until light and fluffy.
Gradually beat in 1 1/2 cups of the powdered sugar, beating well.
Gradually beat in as much of the remaining sugar as needed to reach a comfortable spreading consistency.
Spread each cooled cupcake with the cream cheese icing and then top with the remaining coconut. An easy way to do this is to turn each iced cupcake upside-down and press gently into the coconut to make it adhere.