Preheat oven to 350°F and line an 8-inch cake pan with parchment paper and spray with baking spray.
Prepare egg replacer (or flax egg -- see below) by combining egg replacer powder with water in a small bowl or cup.
2 tablespoon egg replacer, ¼ cup water
In a separate medium bowl, whisk together cake flour, baking powder, baking soda, lime zest, and salt. Set aside.
1 ½ cup cake flour, 1 ¼ teaspoons baking powder, ¼ teaspoon baking soda, 1½ tablespoon lime zest, ½ teaspoon salt
In a large bowl or the bowl of a stand mixer, cream together butter and sugar until light and fluffy, about 2-3 minutes.
½ cup vegan butter, 1 cup organic cane sugar
Add in egg replacer mixture, followed by extracts, and mix well.
¾ teaspoon pure vanilla extract, 1 teaspoon coconut extract
Add in coconut milk and lime juice and mix until smooth.
⅔ cup canned full-fat coconut milk, 1 tablespoon fresh lime juice
Gradually fold in dry ingredients until just combined. Pour batter into prepared cake pan.
Bake in preheated oven for 35 minutes, or until a toothpick entered into the center of the cake comes out clean. Let cool in pan for 15 minutes, then remove to a wire rack to cool completely.
To make glaze, whisk powdered sugar, coconut milk, and lime zest together until smooth. Mixture should be thick, but pourable. If necessary, add a bit more coconut milk to achieve your desired consistency.
Pour glaze over cooled cake and allow to set slightly. Sprinkle top and sides of cake with shredded coconut, and serve.
shredded unsweetened coconut
Flax Eggs: Instead of Egg Replacer, you can make flax eggs by combining 2 tablespoon flaxseed meal with 5 tablespoons water. Let it sit for 5 minutes to thicken before adding it into the batter. If you use the flax eggs option, you'll want to add another ¼ teaspoon each of baking soda and baking powder, to help give the cake a bit more lift.Storage and Freezing: You can store this vegan coconut cake at room temperature in an airtight container for one or two days. To store for longer, you can freeze this cake easily! Just place the cake on a plate in uncovered in the freezer for 15 minutes to harden the glaze, then wrap it well in plastic wrap and a heavy-duty freezer bag to freeze for up to 2 months. Thaw, uncovered, at room temperature, and if needed, sprinkle with additional shredded coconut before serving.