PREHEAT oven to 325°F. Grease and flour 12-cup tube pan. Beat cream cheese and butter in large bowl with electric mixer on medium speed until well blended. Add sugar; beat until light and fluffy. Add coconut, cream of coconut and coconut extract; mix well. Add eggs, 1 at a time, beating well after each addition. Gradually add flour, beating on low speed after each addition until well blended.
POUR into prepared pan.
BAKE 1-1/2 hours or until toothpick inserted near center comes out clean. Cool in pan on wire rack 15 min. Remove cake from pan; cool completely.