Prepare and bake the white cake according to the package directions in a 9×13-inch baking dish.
While the cake bakes, whisk together the sweetened condensed milk and coconut cream in a bowl until smooth.
Once the cake is baked and still warm, use a skewer or butter knife to poke holes evenly across the surface.
Slowly pour the coconut milk mixture over the warm cake, allowing it to seep into the holes.
Let the cake cool completely so the mixture fully absorbs.
Spread the thawed Cool Whip evenly over the top.
Sprinkle shredded coconut over the whipped topping.
Enjoy!