Preheat oven to 325°F (170°C). Spray an 8-inch square baking pan with baking spray with flour.
For syrup: In a medium saucepan, stir together 1½ cups (360 grams) water, coconut, honey, orange juice, and food colorings (if using). Bring to a boil over medium heat and simmer for 10 minutes. Remove from heat, and stir in cardamom. Let cool.
For cake: In the bowl of a stand mixer fitted with the paddle attachment, beat butter at medium speed until light and fluffy. Add sugar, ¼ cup (50 grams) at a time, beating well after each addition. Add eggs, one at a time, beating until combined after each addition. Add milk and vanilla in a slow, steady stream, beating until combined.
In a medium bowl, whisk together flour, baking powder, and salt. Fold flour mixture into butter mixture. (Do not overmix.) Pour into prepared pan.
Bake until a wooden pick inserted in center comes out clean, 40 to 50 minutes. Let cool in pan for 20 minutes.
Using a wooden pick, pierce warm cake all over. Stir syrup, and pour it over cake. Let stand for at least 2 hours before serving.