Preheat the oven to 350°F. Grease two 9 inch round baking pans and set aside.
In a stand mixer, add cake mix, eggs, buttermilk, canola oil, almond extract and vanilla extract. Beat until all ingredients are well combined. Divide the batter evenly between the two prepared pans and bake in a preheated oven for 25 minutes.
Meanwhile, in a medium sized bowl, add coconut custard mix, whole milk and heavy cream. Whisk until all ingredients are well combined. Set aside.
In a separate bowl, add mascarpone cheese and granulated sugar. Beat until light and fluffy. Fold in the prepared coconut custard mixture. When the cakes are done baking, remove from the oven and let cool for 10 minutes. Spread 1/2 of the coconut cream mixture over one layer of cake. Top with remaining cake layer and spread remaining cream on top. Sprinkle generously with sweetened flaked coconuts. Serve chilled or at room temperature.