This coconut Bundt cake with its rosy-pink icing will add charm to any celebration.
Preheat oven to 350 degrees. Butter and flour an 8-inch (6-cup) Bundt pan. In a food processor, pulse coconut, flour, baking powder, and salt until combined.
In a mixing bowl, beat butter until creamy. Gradually add granulated sugar until mixture is light and fluffy, about 4 minutes. Add eggs, egg whites, and vanilla; continue beating until incorporated. Add the flour mixture in three alternating batches with the coconut milk, beating well after each addition.
Pour batter into prepared pan. Bake until a cake tester inserted into middle of cake ring comes out clean, about 35 minutes. Transfer to a wire rack; let cool in pan, 30 minutes.
Trim top of cake with a serrated knife to make a flat base. Run a small knife around edge to loosen; invert cake onto rack to cool completely.
In a bowl, whisk confectioners' sugar and milk until smooth. In a separate bowl, toss remaining cup coconut with petal dust, adding just enough to reach the desired shade. Drizzle icing over top of cake; sprinkle with pink coconut.