Preheat your oven to 350°F (175°C).
Line a cupcake pan with cupcake liners.
In a large mixing bowl, combine the cake mix, coconut milk, sour cream, vegetable oil, and eggs. Mix until smooth.
Gently fold in the shredded coconut.
Fill each cupcake liner about 2/3 full with the batter.
Bake for 18-20 minutes, or until a toothpick comes out clean.
Allow the cupcakes to cool in the pan for 5 minutes, then transfer to a cooling rack.
Frost the cooled cupcakes with the frosting.
Sprinkle additional shredded coconut on top if desired.