Pre-heat oven to 180 degrees (160 degrees celsius fan-forced). Line a 20 x 20cm square cake pan with baking paper.
Combine flours, sugar, walnuts, baking powder and cinnamon in a large mixing bowl.
Whisk together the eggs, oil and orange rind. Add to dry ingredients with the carrot and mix well. Spoon into prepared pan and bake for 45 minutes. Allow to cool for 15 minutes before removing to a wire rack to cool completely.
For cream cheese frosting: beat together the cream cheese, and butter until smooth. Gradually add icing sugar until all combined. Spread over cooled cake and sprinkle with shredded coconut.