Preheat oven to 350 degrees F. Grease and flour a 9x13 inch baking dish.
In a large bowl, cream together the butter and sugar until light and fluffy. Beat in the egg yolks one at a time, then stir in the vanilla and almond extracts.
In a separate bowl, sift together the flour, baking powder, and salt. Gradually stir the dry ingredients into the creamed mixture alternately with the evaporated milk. Beat the egg whites until stiff peaks form, then gently fold into the batter.
Pour the batter into the prepared baking dish and bake for 30 minutes, or until a toothpick inserted into the center of the cake comes out clean.
In a medium bowl, whisk together the condensed milk, cream, and 1/2 cup of the toasted coconut flakes. Pour the mixture over the warm cake and let cool completely.
When the cake has cooled, sprinkle with the remaining toasted coconut flakes. Slice and serve.
Interesting Facts
Tres leches cake is said to have originated in Central America, but it is now a popular dessert in many Latin countries.
The name "tres leches" comes from the three types of milk used in the cake - evaporated milk, sweetened condensed milk, and heavy cream.
Tres leches cake is traditionally served with a dollop of whipped cream and a sprinkle of cinnamon.