Preheat the oven to 350°F (177°C) and grease a 9x13-inch pan (23x33 cm) with butter or coconut oil. Add all of the dry ingredients to a large mixing bowl and whisk together.
Add all of the wet ingredients to a separate mixing bowl and whisk together.
Add the wet ingredients into the dry and whisk together for 1 to 2 minutes, to create a smooth cake batter.
Pour the pumpkin cake batter into the greased pan and bake for 38 to 42 minutes. Baking times can vary, so keep an eye on it, and remove the cake when a toothpick inserted into the middle comes out clean.
Let the cake cool completely in the pan on a wire rack (about 45 minutes). Any residual heat will melt the frosting, so make sure it's fully cooled.
Meanwhile, in a large mixing bowl add the cream cheese, butter, and vanilla extract. Use a hand mixer on medium speed and beat until well mixed. Add the powdered sugar, and beat on slow speed, until the sugar is incorporated, then increase to high speed and beat until fluffy.
Add the cream cheese frosting to the top of the cake and use a spatula spread it across. Optionally, you can add some chopped pecans to the top.