In a large bowl, cream together the 2 cups sugar and 1 cup vegetable oil. Add 4 eggs one at a time, beating after each addition.
In a large bowl, whisk together the 2 cups flour, 2 teaspoons baking soda, 1 teaspoon salt, 2 teaspoons cinnamon, 1 teaspoon ground nutmeg, and 1 teaspoon cloves.
Stir the flour mixture into the sugar mixture until combined.
Fold in 3 cups grated carrots, ½ cup finely chopped walnuts, and ½ cup shredded coconut.
Pour into a greased 13x9-inch pan.
Bake for 42–46 minutes, or until a toothpick inserted into the center comes out clean. Cool for 10 minutes in the pan, then invert onto a wire rack to cool completely.
For the frosting, beat 8 oz cream cheese and ½ cup butter (both at room temperature) together until creamy. Add 4 cups powdered sugar, 1 teaspoon vanilla, and ⅛ teaspoon salt, and beat until fluffy. Stir in 1 cup finely chopped walnuts and 1 cup shredded coconut.
Spread over the top of the cake.
Chill until ready to serve. I like serving the cake at room temperature for the best texture of the cream cheese frosting.
Notes
I recommend removing the cake from the fridge 30 minutes before you plan to serve it for the best frosting texture.Don't want walnuts? Substitute pecans or leave out the nuts altogether. Cooking times for different pans:
Two 9-inch round cake pans: 35–40 minutes
24 muffin cups for cupcakes: 20–24 minutes
Bundt pan: 45–48 minutes
There is plenty of frosting for any of these options.