Beat the cream cheese and butter in a mixer bowl until light and fluffy. Gradually add the confectioners' sugar, one cup at a time, alternating with heavy cream. Beat in the salt, coconut flavoring, and vanilla extract. Continue beating until mixture is smooth and spreadable. Add additional confectioners' sugar if necessary to thicken the frosting, or more cream to thin. Stir in the coconut. If desired, spoon toasted coconut evenly over frosted cake.
