Preheat oven to 325 degree F. Spray 9 X 13 baking pan with baking spray. Set aside.
Place cake mix, four, and sugar into bowl of stand mixer. Mix just until combined. Add water, yogurt, egg whites, oil and extracts. Mix on low speed until combined.
Turn mixer to medium speed and mix for 2 minutes. Pour into prepared pan and place in preheated 325 degree F oven.
Set time for 45 minutes. If you begin to smell the cake before the time goes off, check the cake by sticking a toothpick in the center. If it comes out clean or with just a few crumbs but no wet batter, the cake is done and it needs to be removed from the oven.
While waiting for cake to bake, mix together sweetened condensed milk and cream of coconut in a small bowl and set aside.
Once the time goes off, and you have not removed the cake already because it was done, check the cake for doneness by using the toothpick method.
If the cake is not done after 35 minutes, continue cooking the cake and checking for doneness every 5 to 10 minutes, depending on how wet the toothpick was when testing the cake.
Once done, remove from oven. Poke holes evenly over the cake using a fork, skewer or chopstick.
Slowly drizzle milk and cream of coconut mixture over cake, adding more as it is absorbed into the warm cake.
Once all of the liquid is added to the cake, place in refrigerator until completely cooled.
Once cake is cooled, cover with whipped topping, toasted coconut, and cherries.
Store leftovers in refrigerator.