Preheat the oven to 350 degrees F. Line a cupcake tin with liners and place the rack in the center of the oven.

In a small bowl, stir together 2 cups all-purpose flour, 2 teaspoons baking soda, 1/4 teaspoon salt, and 1 teaspoon cinnamon. Set the dry mixture aside.

In a large bowl, whisk 1 cup granulated sugar and 3 large eggs until combined. Whisk in 1/2 cup coconut oil (measure it solid, then melt and cool before adding). Stir in 3 mashed bananas, 2 cups freshly grated carrots, and 2 teaspoons vanilla extract until evenly distributed.

Add half of the dry ingredient mixture to the wet ingredients and mix with a large spoon until just incorporated. Pour in 3/4 cup buttermilk and stir to combine. Add the remaining dry ingredients and stir until the batter is mostly smooth with only a few small lumps remaining.

Using a 1/4-cup measure or an ice cream scoop, fill each liner about 3/4 full with batter. Bake for 18–20 minutes, or until the cupcakes are set in the center and a toothpick inserted into the center comes out clean or with a few moist crumbs.

Remove the tin from the oven and let the cupcakes cool in the pan for 5 minutes. Transfer the cupcakes to a wire rack and let them cool completely before frosting.

While the cupcakes cool, toast the unsweetened flaked coconut: spread the coconut in a single layer in a dry skillet over medium heat or on a baking sheet under the broiler, stirring or shaking frequently, until golden and fragrant. Watch closely to avoid burning. Transfer toasted coconut to a plate to cool.

To make the frosting, place 1 1/2 (8 ounce) blocks of cold cream cheese in the bowl of an electric mixer and beat until smooth. With the mixer on low, gradually add 2 cups powdered sugar. Once the powdered sugar is incorporated, add 1 teaspoon vanilla extract and 1 teaspoon coconut extract and beat on medium to medium-high speed for 2–3 minutes until creamy, scraping down the sides of the bowl as needed.

Adjust the frosting consistency as needed without adding ingredients not listed: if the frosting is too thin to hold its shape, gradually add additional powdered sugar until it reaches the desired stiffness; if the frosting is too firm, let it sit at room temperature for 5–10 minutes and beat briefly to soften.

Frost the cooled cupcakes. Press the edges of each frosted cupcake into the toasted unsweetened flaked coconut. Top each cupcake with Cadbury mini eggs, if desired.