Coconut Cream Cheese Frosting

*Place butter in a large mixing bowl and blend until smooth. Add cream cheese and blend until well combined, about 30 seconds.
*Add vanilla extract, coconut extract and powdered sugar (1 cup at a time) and blend on low speed until combined. Increase to medium speed and beat until it begins to get fluffy.
*Slowly add the heavy cream or rum.
*Beat until fluffy, about 1 minute.
*Use at once or keep refrigerated. (This frosting will keep well in the refrigerator for several days, but you may need to re-beat it for the best texture.)

For added flavor and texture, top frosted cupcakes with toasted coconut.
(To toast coconut- lay about 1 1/2 cups sweetened flaked coconut on a baking sheet and bake at 375*F about 4-5 minutes).

Decorate cupcakes with fresh pineapple, maraschino cherries or paper umbrellas.