Preheat the oven to 350° F. Line cupcake pans with 24 cupcake liners.

In a medium-sized bowl, combine cake mix, cocoa powder, water, vegetable oil, eggs and vanilla extract. Beat on medium–high speed until all ingredients are well blended.

Divide the batter evenly, filling each liner about 2/3 full and bake for 14 to 16 minutes until the cupcakes are set.

Test the cupcakes for doneness by inserting a toothpick into the center. If the toothpick comes out clean, the cupcakes are done. Allow the cupcakes to cool completely after removing from the oven.

In a medium-sized bowl, combined the sweetened condensed milk and the shredded coconut and stir until well combined. The texture should be thick.

Hollow out the center of each cupcake using a knife or teaspoon. Do not discard the tops.

Fill the center of the cupcakes with about 2 teaspoons of the coconut mixture, pressing down into the center of the cupcake. Then reinsert the top of each cupcakes back into center and press gently.

Using an electric mixer, beat the butter at a medium-high speed for approximately 5 minutes until the butter is almost white. Scrape down the sides of the bowl occasionally.

Next, add the powdered sugar, 2 cups at a time, continuing beating the frosting until the powdered sugar is incorporated. After 4 cups of sugar have been added, add the extracts and the milk.

Add the 2 final cups of powdered sugar and once incorporated, beat the frosting on medium-high speed for another 3-5 minutes. The frosting should be very whipped and airy in texture.

Using a large (3-tablespoon size) cookie scoop, scoop the frosting onto each cupcake. Then gently tap each cupcake on the counter to make sure the frosting sticks.

Invert each cupcake into a bowl of shredded coconut to cover the frosting with the shredded coconut.

To garnish, drizzle with hot fudge sauce and top with crushed or whole almonds.