Shredded sweetened coconut, for garnish, if desired
Preheat your oven to 350 degrees Fahrenheit and grease a bundt pan with non-stick cooking spray.
In a large bowl, cream the coconut oil and sugar together until slightly pale and fluffy. Add the eggs one at a time, beating well after each addition, then stir in the vanilla extract, coconut extract, and sour cream. In a separate bowl, sift the flour, baking powder, baking soda, and salt together. Stir in the coconut and add the dry mixture to the wet; stir just to combine.
Pour the batter into the prepared pan and bake for 50 to 60 minutes or until a toothpick inserted into the centre of the cake comes out clean.
Allow the cake to cool for 20 minutes in the pan then turn it out and allow it to cool completely on a wire rack.
Meanwhile make the sugared cranberries by combining a half cup of the sugar with the water in a small pot and set over medium heat. Allow the mixture to come to a simmer and bubble away until the sugar is fully dissolved, about three minutes. Meanwhile, scatter an even layer of the remaining sugar over the bottom of a small baking dish or pie plate and set aside.
Remove the syrup from the heat and quickly toss in the cranberries. Using a slotted spoon, remove the cranberries from the syrup, allowing any access to drip off, and gently toss them in the remaining sugar. Transfer the sugar coated cranberries to a rack-lined baking sheet and allow them to dry so that the sugar forms a crisp little coating on the outside of each berry, about one hour.
Prepare the glaze by beating together the cream cheese and butter until well combined. Slowly begin incorporating the powdered sugar, about a quarter cup at a time, until the glaze is smooth. Add in the coconut extract and a splash of milk or cream or a little more sugar in order to achieve a smooth and thick glaze.
When the cake is cooled completely, transfer it to a serving platter or cake pedestal and pour the glaze over top so that it drips down the sides. Allow the glaze to set for about five minutes then dot the top of the cake with some of the sugared cranberries. Scatter the remaining around the base of the cake and finish everything off with a little dusting of coconut, if desired.