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Preheat the oven to 350. Spray an 8-inch (or 9-inch) square baking dish with cooking spray and set aside.
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Whisk the flour, sugar, baking soda, and salt together in a medium bowl. Make a well (a deep indentation) in the middle of the dry mixture and pour the water, oil, vinegar, and extracts into the well.
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Stir with a rubber spatula until batter until just combined; you don’t want to over-mix your batter so stop stirring when you no longer see big streaks or lumps of flour. Fold in the coconut.
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Pour the batter into the prepared pan and smooth the top.
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Bake 30 to 35 minutes (24 to 30 minutes for a 9-inch pan), until the cake is golden around the edges and a cake tester inserted into the center of the cake comes out clean.
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Cool completely on a wire rack before adding the glaze.