Combine butter and cream cheese in a stand mixer. Beat until smooth and fluffy. Add extracts. Gradually add powdered sugar, beating until incorporated, scraping sides and bottom of bowl as needed.
Spread evenly over cooled brownies. Top with shredded coconut.
Freeze for 1 hour before lifting brownies from pan and cutting. Store in an airtight container in the refrigerator. Serve at room temperature.
Recipe by Not Just Sunday Dinner at https://notjustsundaydinner.com/coconut-frosted-brownies/