Preheat the oven to 350 degrees F. Prepare a 9x13-inch baking pan with non-stick spray.

Separate the egg yolks and egg whites.

In a bowl, add sugar and butter. Whip until creamy.

Stir in egg yolks and mix until smooth and fluffy.

To the egg yolk mixture, add 1 cup of the coconut milk and mix.

Add flour and baking powder, mix until incorporated.

Add 1/4 cup whole milk and mix.

In another bowl, beat the egg whites until stiff peaks form. Gently fold the whites into the egg yolk and flour mixture. 

Pour mixture into prepared pan and bake 30 to 35 minutes.

Text for doneness with a wooden pick. The cake is done with no crumbs or dry crumbs are on the stick when inserted into the middle of the cake.

While the cake is baking toast the coconut.

Mix the sweetened condensed milk, 1/4 cup coconut milk, and 1/4 cup whole milk together. 

When the cake is done, remove from the oven. While the cake is hot, poke holes in the top with a fork or skewer. Pour the milk over the cake.

Allow the cake to sit and soak in the milk.

When the cake is completely cool, frost with whipped topping.

Garnish with toasted coconut.