Preheat oven to 350°F. Grease a tube pan. Sprinkle 1/4 cup granulated sugar into prepared tube pan. Roll the pan around, to distribute the sugar evenly. Sprinkle 1/4 cup coconut evenly onto bottom of pan. Set aside.

In a large bowl, beat butter on medium speed until creamy. Add remaining sugar to butter and continue beating until light and fluffy. Add eggs, one at a time, beating after each addition. Add sour cream, vanilla and almond extracts, beat again.

In a large bowl, whisk together cake flour, baking powder, baking soda and salt. With the mixer on medium, slowly add 1 cup of the flour mixture then add 1/2 cup buttermilk. Slowly add another 1 cup of flour mixture then remaining buttermilk. Last, add remaining flour mixture and beat just until incorporated.

Scrape the batter into the prepared tube pan. Bake in preheated oven for 50-60 minutes, until a tester inserted comes out clean. Cool completely in pan on a wire rack.

After removing cake from oven, spread remaining 1/4 cup coconut onto a baking sheet. Bake in oven, stirring frequently until lightly browned and coconut smells nutty. Remove from oven and set aside.

In a medium bowl, stir together powdered sugar, 4 tablespoons heavy cream and vanilla extract until well combined and no lumps remain. Add more heavy cream, if necessary to get a better drizzling consistency.

Invert cooled cake onto a serving plate and remove from tube pan. Drizzle desired amount of glaze over top of cooled cake. Sprinkle with toasted coconut.