2/3 cup cocoa powder
1 tsp baking soda
1 cup boiling water
1/2 cup butter, melted
1/3 cup vegetable or canola oil
1 3/4 cup granulated sugar
1 1/2 tsp vanilla extract
3/4 tsp salt
2 large eggs
2 large egg yolks
1/2 cup heavy cream
1 3/4 cup all-purpose flour
1 cup butter, at room temperature
1/4 cup coconut milk (canned, well shaken)
1 tsp coconut extract
4 cups powdered sugar
3/4 cup sweetned, shredded coconut, (optionally ground in a food processor for smaller pieces)
1/2 - 3/4 cup sliced almonds or 24 whole almonds
24 milk chocolate or semi-sweet chocolate chips, optional
Preheat oven to 350 degrees. In large heat proof mixing bowl, whisk together cocoa powder and baking soda.
Carefully pour in boiling water and whisk until bubbling subsides and mixture is well blended, allow to cool for 5 minutes. Meanwhile, in a separate large mixing bowl, using an electric hand mixer set on low speed, blend together melted butter, vegetable oil, granulated sugar, vanilla and salt until well combined, about 30 seconds. Stir in eggs and eggs yolks, mixing just until combined after each addition. Blend in lukewarm cocoa mixture then blend in heavy cream. Slowly mix in flour and blend until combined, while scraping down sides and bottom of bowl.
Divide batter among 24 paper lined muffin cups and bake in preheated oven until toothpick inserted into center comes out clean, about 18 - 20 minutes. Remove from oven and allow to cool in muffin tin several minutes before transferring to wire rack to cool. Cool completely then frost with coconut frosting. Sprinkle each frosted cupcake with coconut (before frosting sets), leaving about a 1/2 - 1 inch circle in center of cupcake uncoated with coconut. Gently press 5 or more sliced almonds around 1 chocolate chip in center of cupcake, or gently press 1 whole almond into the center of each cupcake. Store in an airtight container.
In the bowl of an electric stand mixer fitted with the paddle attachment, whip together butter and coconut milk on medium-low speed until combined, then increase speed to medium-high and whip until very pale and fluffy, about 6 minutes. Blend in coconut extract. With mixer set on low speed, slowly add in powdered sugar then increase speed to medium-high and blend until fluffy, about 2 minutes.