Preheat your oven to 350°F (175°C). Line a 12-cup muffin tray with cupcake wrappers, lightly greasing the insides for easy removal.
In a large bowl, whisk together the almond flour, coconut flour, powdered sweetener, xanthan gum, baking powder, baking soda, cinnamon, nutmeg, ginger, allspice, cloves (if using), and salt until well combined.
In a separate medium bowl, beat or whisk the melted butter (or coconut oil), eggs, vanilla extract, and blackstrap molasses (if using) until smooth.
Pour the wet ingredient mixture into the dry ingredients. Add the shredded carrots and unsweetened coconut. Mix everything together until a thick, uniform dough forms.
Use a muffin scoop to evenly divide the batter among the 12 prepared cupcake cups. Bake for 30-35 minutes, or until the tops are golden, risen, and a toothpick inserted into the center comes out clean.
Let the cupcakes cool in the muffin tray for a few minutes before transferring them to a wire rack to cool completely for about 20 minutes.
While the cupcakes are cooling, combine all frosting ingredients (softened cream cheese, softened butter, vanilla extract, and powdered sweetener) in a bowl. Use an electric beater to blend until the frosting is smooth and creamy.
Once the cupcakes are completely cool, transfer the frosting to a piping bag (or a Ziploc bag with a corner snipped off). Pipe the frosting onto each cupcake, starting from the outer edge and spiraling towards the center.
Serve your delicious Keto Carrot Cupcakes immediately! Store any leftovers in an airtight container in the fridge for up to one week.