Preheat oven to 350 degrees F, with the baking rack positioned in the lower third of the oven. Lightly grease a 10-cup capacity bundt pan.
In a clean coffee/spice grinder or a small food processor, pulse freeze-dried strawberries and dried hibiscus flowers together with 2 tablespoons of granulated sugar until very finely ground. Transfer to a small bowl and stir in remaining 1/4 cup of granulated sugar.
In a mixing bowl or the bowl of a stand mixer, beat together the unsalted butter, cream cheese, salt, sugar, baking powder, vanilla extract, and almond extract until light and fluffy, about 3 to 5 minutes.
Add the eggs, one at a time, beating well after each addition and scraping down the sides of the bowl once or twice. After you’ve added the final egg, increase the mixer to high and beat for 3 minutes.
Reduce mixer speed to low. Add half of all-purpose flour, mixing until almost incorporated. Mix in milk, followed by remaining flour, mixing until just combined. The batter will be smooth and thick, but still pourable.
Spoon about 1/4 of the batter evenly around the bottom of prepared bundt pan. Sprinkle generously with about 2 tablespoons of strawberry sugar mixture. Spoon about half of remaining batter on top, sprinkle with another 2 tablespoons sugar (reserve what’s left for the glaze). Spread remaining batter evenly over top.
Place the bundt pan on a baking sheet (just in case) and bake for 40 to 50 minutes or until a toothpick inserted in the thickest part comes out clean. If you use an instant-read thermometer, the temperature should register about 200 to 205 degrees F.
Remove from the oven and place on a wire cooling rack for 15 to 20 minutes, then gently invert the cake onto a cake stand or serving plate. It should come out cleanly. Let cool completely, then dust generously with powdered sugar (optional, but it makes the glaze stand out more).
For glaze, whisk powdered sugar with remaining strawberry sugar (about 4 tablespoons or so). Add 2 tablespoons of hibiscus tea and whisk until smooth. Add more tea as needed, 1 teaspoon at a time, until glaze is thick but pourable (too thin and it’ll just run down the sides of the cake). Pour or pipe onto cake. Let set for a few minutes before slicing and serving.
Store leftover cake in an airtight container at room temperature for up to 2 days. You can also freeze the unglazed cake, wrapped tightly in plastic wrap and/or in an airtight bag, for up to 1 month. Let thaw completely before glazing.
