Prepare cake mix according to directions on the box, substituting coconut milk for water in the mix. I like to use a stand mixer to mix it up. Bake in a 9 x 13-inch pan. Amie and I both thought the cake was done at least 5 minutes before the box directions predicted. If the cake over bakes, the crust will be too dry to absorb the cream of coconut.
While the cake is still warm, poke holes all over the top of the cake with a skewer, a toothpick, a chopstick, or even a fork.
Warm cream of coconut for 1-1/2 minutes on HIGH in the microwave and pour over the cake. Chill in the refrigerator for several hours or overnight.
Frost with 1 container of thawed, whipped topping (i.e. Cool Whip). Sprinkle flaked coconut on top. Keep refrigerated.