cream butter until light and fluffy. Slowly drizzle oil, continue to mix. Add sugar, one cup at a time. Add extracts. Add eggs one at a time. Add flour and milk alternating, beginning and ending with flour. Add pineapple juice. Pour evenly into prepared pans, and bake for 45 to 50 mins.
Mix 1/4 cup powdered sugar with 1/4 cup pineapple juice. Add 2 sticks unsalted butter, whip until fluffy. Add 1 tsp coconut extract. Add powdered sugar until desired consistency is reached.
spread a generous amount on top of first layer. Top with crushed pineapple, and shaved coconut. Place second cake layer on top. Cover entire cake with remaining icing. Dust sides of cake with shaved coconut. Top with crushed pineapple.