1.Preheat oven to 180°C/350°F. Line two 12-hole standard muffin pans with paper baking cups.
2.Beat butter, coconut extract, lime peel, sugar and eggs in large bowl with electric mixer until combined.
3.Stir in milk and coconut, then sifted flour. Divide mixture among baking cups; smooth surface.
4.Bake cakes about 25 minutes. Turn cakes onto wire rack to cool.
5.To make coconut cream cheese frosting, beat butter, cream cheese and coconut extract in small bowl with electric mixer until light and fluffy; gradually beat in sifted powdered sugar.
6.Cover backs of decorations with parchment paper to prevent staining.
7.Spread cakes with frosting; dip tops of cakes into vanilla wafer crumbs, top with decorations.
We used scrap-booking decorations available from craft and hobby shops. This cake can be assembled directly onto a table or covered 24-inch square cake plate.
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