Drain mangos, reserving juice. Set mangos aside. Combine mango juice and water in a medium saucepan; bring to a boil. Add gelatin, and stir until gelatin dissolves; remove from heat, and cool slightly.
Combine mangos and cream cheese in container of an electric blender; process until smooth. Add to gelatin mixture, mixing well. Stir in lime juice. Pour mixture into a lightly greased 8-cup mold. Cover and chill overnight.
Unmold onto a serving platter. Garnish with coconut.