You should test your code on a known baseline. I highly recommend purchasing some time on an Amazon EC2 instance, because then you can compare to Paul Jones' benchmarks available at http://paul-m-jones.com/blog/?p=238. Alternatively, run it on your localhost with as few processes running as possible.
The pseudocoder article above is also a good place to look for speeding up your application.
Are you on shared hosting? Cake tends to perform horribly on those, due to huge variances in resource availability. One of the pitfalls of shared hosts.
If you're not on shared hosting, is it your SQL that takes forever to execute? What kind of "total times" do you get for the sql component (turn debug to 2, check the sql log at the bottom of the pages). If it's not the sql, it's your coding.
Be aware that Cake is pretty slow as well. Make sure you have the latest stable release (somewhere recently it got about a 25% speed bump w/o changing the API). And finally realize that on my VPS with a good host, 2GB RAM, a request still takes about a second to execute, just due to the overhead that is CakePHP.