Preheat the oven according to the cake mix package directions for a 9x13-inch cake and grease a 9x13-inch baking dish. In a large mixing bowl, whisk together the strawberry cake mix, guava nectar, eggs, and coconut oil just until smooth and combined. Do not add the water or other ingredients listed on the cake mix box.
Pour the batter into the prepared pan and spread it evenly. Bake according to the package directions, beginning to check the cake around 25 minutes. The cake is done when a toothpick inserted in the center comes out clean or with a few moist crumbs. Let the cake cool completely.
Beat the softened cream cheese with a hand mixer until smooth and fluffy. Add the sugar and vanilla and mix until combined. Gently fold in the Cool Whip. Refrigerate until ready to assemble the cake.
In a medium saucepan, bring the guava nectar and sugar to a boil. In a small bowl, whisk the cornstarch and cold water until completely smooth. Remove the saucepan from the heat and whisk in the cornstarch mixture. Return to the heat and boil for 1 minute, stirring constantly, until thickened. Cool completely.
Spread the cream cheese mixture evenly over the completely cooled cake. If possible, refrigerate the cake for 15 to 20 minutes to firm up the cream cheese layer before adding the guava topping.
Gently spread the cooled guava topping evenly over the cream cheese layer. Cover and refrigerate until chilled and set. For the cleanest slices and best texture, refrigerate at least 2 hours or overnight before serving.