Preheat oven to 350°F (176°C) and prepare three 8-inch cake pans with non-stick baking spray and parchment paper.

In a large bowl, combine flour, sugar, cocoa, baking soda, baking powder, and salt. Set aside.

In another bowl, whisk together milk, vegetable oil, vanilla extract, and eggs.

Add wet ingredients to dry ingredients and beat until well combined.

Slowly add hot water to batter and mix on low speed until smooth.

Divide batter evenly among prepared pans and bake for 22–25 minutes, or until a toothpick comes out clean.

Cool cakes in pans for 2–3 minutes, then transfer to a wire rack to cool completely.

To make the coconut filling, stir sweetened condensed milk into shredded coconut until fully coated.

For the frosting, cream butter and shortening together until smooth.

Gradually add half the powdered sugar, then mix in coconut extract and 4–5 tablespoons of water or milk.

Add remaining powdered sugar and mix until creamy; adjust consistency with more liquid if needed.

Level the cooled cake layers with a serrated knife so they are flat.

Place first layer on a serving plate and pipe a ring of frosting around the edge to hold filling.

Spread half the coconut filling inside the frosting ring.

Sprinkle 1–2 tablespoons of sliced almonds over the filling and press gently.

Repeat with second layer, more filling, and almonds.

Top with final cake layer.

Frost sides with a thin crumb coat and chill for 10 minutes.

Frost top and sides smoothly, creating decorative stripes with an offset spatula.

Prepare chocolate ganache by microwaving heavy cream until boiling, then pouring over chocolate chips.

Let ganache sit 2–3 minutes, then whisk until smooth.

Drizzle ganache around cake edges and over the top; smooth with a spatula.

Let ganache set slightly, then finish decorating with extra frosting, coconut, almonds, and optional Almond Joy bars.

Refrigerate cake until ready to serve. Best served at room temperature.