In a large saucepan, bring butter and water to a boil. Remove from the heat; stir in the flour, sugar, eggs, sour cream, almond extract, baking soda and until smooth.
Pour into a greased 15-in. x 10-in. x 1-in. baking pan. Bake at 375 degrees F for 12-15 minutes or until a toothpick inserted near the center comes out clean and cake is golden brown. Cool completely.
For frosting, in a bowl cream butter. Then mix in the remaining ingredients until smooth and fluffy. Spread over cooled cake.
Before serving top with toasted coconut. Serves 24.