Preheat oven to 350 degrees Fahrenheit (175 degrees Celsius). Oil and flour two 9" round cake pans, and set aside.
In the bowl of a stand mixer, beat together sugar and coconut oil. With the mixing speed on low, add one egg at a time.
In a medium-sized mixing bowl, whisk together flour, cocoa powder, baking soda, baking powder, and salt. With the mixing speed on low, gradually alternate adding whisked dry ingredients and coconut milk. Mix just until combined. Remove the bowl and pour the batter evenly between the two prepared pans.
Place in the oven and bake for 25–30 minutes or until a cake tester inserted into the center comes out clean. Remove from the oven and allow to cool in pans for 5 minutes before transferring to a wire rack to cool completely.
While the cakes are cooling, prepare the coconut frosting by beating the coconut oil in the bowl of a stand mixer fitted with the whisk attachment for 4–6 minutes. Once the oil is creamy, add salt and coconut milk. Mix until incorporated. With mixing speed on low, gradually add the powdered sugar. Once combined, beat on medium-high until fluffy, for about 2 minutes. If the frosting isn't spreadable enough, add a splash more coconut milk and beat another 30 seconds.
To assemble, place one layer of cake onto a round or a cake stand. Frost the top evenly, then add the next layer. Frost the top of that layer and then (if desired) the sides of the entire cake. Garnish as desired.
Notes
This recipe was entered into the So Delicious and GoDairyFree.org March Recipe Madness Competition.*You can use any coconut milk product you desire, such as unsweetened, sweetened, sugar-free, or culinary. Adding vanilla-flavored coconut products eliminates the need for vanilla extract; however, if you love vanilla (or don't have vanilla-flavored coconut products), you can add 1 tsp. to the batter in Step 1.-Try substituting 1 c. of all-purpose flour with whole wheat flour for a healthier option.-For a vegan version, replace the eggs with your favorite egg replacer.-For a non-dairy-free version, substitute coconut oil with vegetable oil, coconut milk with 1 c. whole milk and 1 c. buttermilk, and coconut oil (in the frosting) with butter.-I garnished mine with sweetened coconut and sliced almonds to create an "Almond Joy" cake, but this is purely optional. The cake is also delicious on its own or with fresh fruit.-Makes one double-layer 9" cake.STORE the cake covered at room temperature for 1–2 days or in an airtight container in the fridge for up to a week. FREEZE it in an airtight container for up to 3 months.Let thaw overnight in the fridge. To REHEAT, microwave slices for 10–15 seconds or enjoy at room temperature.