Preheat a oven to 170 degree C. Take a baking pan and butter the inside and sides. Sprinkle some flour and coat on all sides. Now tap off the excess flour and set aside.
Take butter, sugar in a bowl and use a beater to whip till creamy.
Add in one egg at a time and beat till fluffy and light.
Add in vanilla and soft over flour, baking powder and salt. Fold gently.
Add milk and fold gently.
Pour this into a prepared cake pan and bake for 35 to 40 mins or untill a tooth pick inserted comes out clean.
Remove it from oven and let it cool for few mins.
Now invert it to a plate and cut of the top if it too domed.
While the cake is cooling, make syrup. Take honey, water and coconut in a sauce pan and bring it to boil, simmer it for 5 mins. Remove from heat and add a touch of food colour and mix well.Set aside.
Now use a toothpick to make hole over the cake. Pour the syrup over cake and chill this for a hour before serving.