Cupcakes:
Preheat the oven to 325°F (160°C).
Line a 12-cup muffin tin with paper liners. Set aside.

In the bowl of a mixer, cream the butter with the sugar until the mixture is light and fluffy.
Add the eggs one at a time, mixing between each addition.
Add the vanilla and coconut extracts and mix.

Incorporate the flour, baking powder, bicarbonate, and salt, which have been previously combined, then add the coconut milk and shredded coconut and mix until homogeneous.

Divide the preparation among the paper liners, then bake for 25 to 30 minutes or until a toothpick inserted in the center comes out clean and the top of the small cakes is lightly golden.
Remove from the oven and let the cakes cool completely on a rack.

Cream cheese frosting with lime:
In the bowl of a mixer fitted with the whisk, cream the butter and cream cheese until the mixture is homogeneous and lightly fluffy.
While beating, incorporate the lime juice and zest.
Reduce the mixer speed and incorporate the powdered sugar, 1/4 cup (25g) at a time.
Cover the preparation with plastic wrap and refrigerate for at least 2 hours before frosting your cupcakes with it.
Decorate with small slices of lime and silver balls.