In a mixing bowl, sift together flour, sugar, baking soda, and cinnamon. In another mixing bowl combine milk, oil and eggs. Add dry ingredients to wet ingredients and beat in low speed until absorbed. Fold in carrots and pecans.
Pour the batter evenly into a greased 9 by 13 by 2-inch pan lined with parchment paper. Bake in 350 degree F. oven for 40 to 45 minutes or until a toothpick comes out clean. Let cool completely in the pan. Remove cooled cake from pan and remove paper from the cake and cover cake with Frosting.
Combine softened cream cheese, softened butter, and vanilla extract, and beat until smooth. Add confectioners' sugar and beat until light and fluffy. Fold in coconut flakes and chopped pecans.