To make the coconut whipped cream: Make sure to place the can of coconut milk in the refrigerator for at least 6 hours (or overnight). This will cause the cream to separate from the milk. The cream will be at the top of the can.
Open the can of coconut milk and scrape out the cream into a medium sized bowl.
Add the vanilla and raw honey to the mixture. Whip the cream with a hand mixer on medium speed and work your way up to high speed until the cream is fluffy, about 5 minutes (it will not be as fluffy as dairy whipped cream). Place the bowl of whipped cream in the fridge until ready to use.
To make the toasted almonds or coconut: Place a medium sized skillet over medium-high heat and allow the pan to get hot.
Add the sliced almonds or shredded coconut and toss in the pan until they are toasted and turn a light brown colour. Remove from pan and set aside to cool.
To assemble: Remove the top and bottom from the watermelon and remove the rind from the middle section. You should be left with a cake-shaped piece of watermelon. Cut the watermelon “cake” into the number of wedges/slices you want.
Pat the outside of the watermelon dry with paper towels (this is important because it will help the coconut whipped cream adhere better).
Dip the outside edge of each slice into the coconut whipped cream and then into the toasted almonds or coconut, and reassemble the wedges into the cake shape on a serving platter. Top with more whipped coconut cream and your favourite fresh fruit.
Serve or store in the refrigerator until ready to serve.