Preheat the oven to 350F (180C). Grease three 8-inch cake pans and line with parchment.
In a medium bowl, mix together the flour, baking powder, baking soda, and salt. Set aside.
In a stand mixer (or with a hand mixer), cream together the butter, coconut oil, and sugar until pale, light and fluffy, about 5 minutes on medium-high. Scrape down the bowl halfway through.
With the mixer running, slowly pour in the egg whites and whip 1-2 minutes until well combined.
Add the extracts and mix until combined.
Reduce to low speed and add 1/3 of the flour mixture until just combined, then 1/2 the buttermilk; repeat, alternating and ending with the dry mixture.
Divide the batter evenly among the 3 prepared pans.
Bake 35-40 minutes or until a toothpick comes out clean. Cool completely.
For the icing: beat the softened butter and cream cheese on medium-high until fluffy, about 2 minutes.
Add salt, almond extract, and vanilla. Whip until combined.
On low speed, add the powdered sugar 1 cup at a time.
Once all the sugar is in, turn up the speed and whip on medium-high until light and fluffy, about 2 minutes.
Spread the icing over the cooled cake in an even layer.
