Preheat your oven to 325?F (163?C). Grease and flour a standard bundt or tube pan, or line with parchment paper to ensure easy release.

In a large bowl, beat the softened butter and granulated sugar together until very light and fluffy?about 5 minutes using a stand mixer.

Add the eggs one at a time, beating well after each addition to keep the batter smooth.

In a separate bowl, sift together the flour, baking soda, and salt.

With the mixer on low, add the dry ingredients to the butter mixture, alternating with the buttermilk. Start and end with flour. Pour in the vanilla and almond extracts as you mix.

Gently fold in the shredded coconut, optional nuts, and floured chopped strawberries.

Pour the batter evenly into your prepared pan. Smooth the top and bake for 60-70 minutes, or until a toothpick inserted into the center comes out clean.

Cool in the pan for 15-20 minutes, then invert onto a wire rack to cool completely.

Beat the cream cheese and butter together until smooth. Gradually add the powdered sugar, then mix in the vanilla extract and the finely chopped strawberries.

Add food coloring for a pink hue if desired.

Once the cake is completely cool, spread the frosting over the top and sides. Garnish with extra coconut, nuts, or strawberry slices if desired.