Preheat oven as directed on the cake mix box. Grease and line two 9-inch cake pans. Prepare the cake mix and divide it between the pans. Bake according to the package's directions for round pans, but check for doneness a few minutes early. Cool cakes in pans for 10 minutes, then remove and cool completely on a wire rack.

Combine cream of coconut and sweetened condensed milk in a bowl.

Place one cake layer on a plate. Poke holes all over with a skewer.

Pour half of the coconut sauce over the cake, letting it soak in.

Place the second cake layer on top and repeat poking and soaking with the rest of the sauce.

Spread whipped topping over the top and sides of the cake.

Decorate: Cover the cake with flaked coconut.

Refrigerate the cake for at least 2-3 hours before serving.