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PREHEAT oven to 350°F. Mix flour, baking powder and cinnamon until well blended; set aside.
BEAT margarine and sugar in large bowl with electric mixer on medium speed until light and fluffy. Add eggs, 1 at a time, mixing until well blended. Add flour mixture alternately with milk, beating until well blended after each addition. Add carrots, coconut, walnuts and pineapple; mix well. Pour evenly into 2 greased 9-inch round cake pans.
BAKE 40 minutes or until toothpick inserted in centers comes out clean. Cool in pans 10 minutes. Remove from pans; cool completely on wire racks. Place 1 of the cake layers on serving plate; spread with PHILADELPHIA® Cream Cheese Frosting. Cover with remaining cake layer. Spread top and side of cake with remaining frosting. Store in refrigerator.