Grease and flour a 10-inch tube pan or fluted tube pan. Set aside.
In a large bowl, combine eggs, sugar, oil and coconut extract; beat well.
Stir together the flour, baking soda, baking powder and salt. Add to egg mixture alternately with buttermilk or sour milk, beating well after each addition.
Stir in walnuts and coconut. Pour batter into prepared pan.
Bake in a 325 degree F. oven for 60 to 65 minutes or until a toothpick inserted near the center of the cake comes out clean. Place cake on wire rack; cool in pan for 10 minutes. Remove cake from pan and poke small holes in the top with a toothpick or a long-tined fork. Brush hot Coconut Syrup over hot cake. Cool. Makes 12 to 16 servings.
To make 1 cup sour milk, place 1 tablespoon lemon juice or vinegar in a glass measuring cup. Add enough milk to make 1 cup liquid; stir. Let the mixture stand for 5 minutes before using it in a recipe.
In a small saucepan, combine sugar, water and butter or margarine. Bring to boiling; reduce heat. Simmer, uncovered, for 2 minutes. Remove from heat. Stir in coconut extract.