Sour Cream Coconut Cake with Coconut Cream Cheese Frosting

3 large eggs
1 (8-ounce) container sour cream
1/3 cup water
1 (8.5-ounce) can cream of coconut
1/2 teaspoon vanilla extract
1 (18.25-ounce) package white cake mix

Beat eggs at high speed with an electric mixer 2 minutes. Add sour cream, 1/3 cup water, and next 2 ingredients, beating well after each addition. Add cake mix, beating at low speed just until blended. Beat at high speed 2 minutes. Pour batter into a greased and floured 13- x 9-inch baking pan.
Bake at 325° for 40 to 45 minutes or until a wooden pick inserted in center comes out clean. Cool cake in pan on wire rack. Cover pan with plastic wrap, and freeze cake 30 minutes. Remove from freezer.
Spread Coconut-Cream Cheese Frosting on top of chilled cake. Cover and store in refrigerator.
Note: If desired, cake can be baked in 1 greased and floured 15- x 10-inch jellyroll pan for 30 to 32 minutes or until a wooden pick inserted in center comes out clean. Makes 15 servings

Coconut Cream Cheese Frosting

1 (8-ounce) package cream cheese, softened
1/2 cup butter or margarine, softened
3 tablespoons milk
1 teaspoon vanilla extract
1 (16-ounce) package powdered sugar, sifted
1 (7-ounce) package sweetened flaked coconut
Preparation

Beat cream cheese and butter at medium speed with an electric mixer until creamy; add milk and vanilla, beating well. Gradually add sugar, beating until smooth. Stir in coconut.