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I like it. It's obviously a feminine form of a masculine name, but it also looks very put together and a good name in its own right (I'm trying to think of an example... I guess it's like Harriet as opposed to Roberta, if that makes sense?)
I also like the names Caralena Estelle mentioned, but I think Karima is warmer and more manageable. "-ma" seems like a warm, friendly, and fairly popular suffix, and "Kari" is a cute and popular nickname. The whole name itself is slightly exotic, but since it's composed of very familiar elements it seems more warm and "doable".

I like it, but not as much as Khalida and Khalilah