Preheat Oven and Prep Pan:

Heat oven to 350°F (175°C). Place liners in a muffin pan; set aside.

Whisk Dry Ingredients:

Combine flour, baking soda, salt, and baking powder in a large bowl; whisk to blend.

Cream Butter and Sugars:

In a stand mixer bowl, beat softened butter, granulated sugar, brown sugar, vanilla extract, and almond extract until fluffy and pale, about 4 minutes.

Beat in Eggs:

Beat in eggs one by one, mixing thoroughly after each addition.

Alternate Additions, Fold Mix-ins:

Add buttermilk and dry ingredients alternately, mixing on medium-low until incorporated. Raise speed and beat until smooth. Fold in coconut and pecans.

Bake Cupcakes Until Done:

Fill liners 3/5 full. Bake 20-23 minutes until a toothpick inserted in center emerges clean. Cool completely on a rack before frosting.

Make Cream Cheese Frosting:

For frosting: Beat softened butter, shortening, and powdered sugar for 3-5 minutes. Beat in cream cheese a quarter at a time. Add vanilla extract, almond extract, and a pinch of salt; beat 3 more minutes. Transfer to a piping bag and refrigerate 30 minutes.

Pipe Frosting and Garnish:

Use a Russian ball tip or similar to pipe frosting onto cupcakes. Pipe additional softened frosting into the center hole. Garnish with a cherry and chopped pecans.