For the cupcakes: Preheat the oven to 325F (160C).
In the bowl of an electric mixer fitted with the paddle attachment, cream the butter and sugar on high speed until light and fluffy, about 3 minutes. With the mixer on low speed, add the eggs, 1 at a time, scraping down the bowl after each addition. Add the vanilla and almond extracts and mix well.
In a separate bowl, sift together the flour, lemon myrtle, baking powder, baking soda, and salt. In 3 parts, alternately add the dry ingredients and the buttermilk to the batter, beginning and ending with the dry. Mix until just combined. Fold in coconut.
Line a muffin pan with paper liners. Fill each liner evenly with batter. Bake for 20-25, until the tops are brown and a toothpick comes out clean. Allow to cool in the pan for 15 minutes. Remove to a baking rack and cool completely.
For the lemon myrtle syrup: Bring all ingredients to the boil stirring until sugar is dissolved. Strain lemon myrtle from syrup. Poke holes into the cupcakes with a fork, then either dip cupcakes into syrup or spoon the syrup over the cupcakes. This is best done when the cupcakes and syrup are still warm.
For the coconut frosting: Using a mixer fitted with a paddle attachment, beat the cream cheese and powdered sugar in a large bowl on medium-high speed about 1 minute. Add the whipping cream, coconut cream, and salt; beat until combined. Frost cupcakes when they are completely cool.