In a large bowl, cream the butter, cream cheese and sugar until light and fluffy.
Beat in orange juice, egg yolk, and almond extract.
Combine the flour, baking powder and salt; gradually add to creamed mixture and mix well.
Stir in 3 cups of coconut. Refrigerate for 30 minutes or until easy to handle.

Shape dough into balls 2-in around; roll in remaining coconut.
Place 2 in apart on ungreased baking sheets.
Using the end of wooden spoon, make an indention in the center of each ball.

Bake at 350 for 8-10 minutes or until lightly browned. Remove to wire rack to cool.
Fill each cookie with preserves.