3/4 cup butter (room temperature)
6 ounces cream cheese (room temperature)
5 eggs (room temperature)
1 1/2 cups sugar
1 teaspoon baking powder
2 teaspoons vanilla extract
1 teaspoon coconut extract (see note)
3 tablespoons milk
1 3/4 cups + 2 tablespoons all purpose flour
Spray a 9" x 5" x 2 3/4" loaf pan with cooking spray and then line the bottom only with parchment paper (waxed paper will work in a pinch) then spray the paper too..
In large bowl, beat the butter, cream cheese, sugar, baking powder, milk and extracts until smooth.
Add the eggs, one at a time, beating well after each egg. When the eggs are all in there, beat batter on high for 3 minutes.
Sift the flour, then add it (while the mixer is running on LOW) 1/4 cup at a time, beating only until the flour is well incorporated, but don't over mix.
Bake in prepared pan in pre-heated 350° oven for 70 to 75 minutes or until a toothpick tests clean. My electric oven takes 70 minutes.
Let the cake cool in the pan for 15 minutes, then run a knife around the edges and tip it out onto a cooling rack.
While the cake is still VERY hot, wrap it tightly with plastic wrap and let it cool that way. This makes a huge difference in the moisture any cake will have. I do ALL of my cakes this way.
NOTE: The coconut extract gives this cake a wonderful flavor (you won't taste the coconut) but it really adds to the vanilla flavor. If you don't have coconut extract, use the required 2 teaspoons of vanilla and 1 more teaspoon of your favorite extract, like rum, or orange or almond.