A spiritual place full of records of peoples magical works. It exists in the ether.
==new answer==The akashic records are located between the fourth and fifth level of subconscious mind. This is where all thought and action is stored. In the bible, it is referred to as the book of life.
The Akashic records are "located" in the 5th dimension (we currently live in the third, but some believe that as a human race we rapidly approaching a turning point when the advanced Souls will ascend to the 5th dimension using their light bodies.)
There is no time or space in the 5th dimension. That is why we call the Akashic Records a virtual library, because like the internet it exists in a virtual reality.
As time doesn't exist there - we could say that all the information about your Soul always has been there.
The story of your Soul was created by your Higher Self and recorded at the moment of creation. This story gradually reveals itself through your Soul's incarnations in different dimensions and universes.
I can compare the individual Soul's story to a book that is sitting on a shelf waiting to be read. The story is there but it is unknown until it is read.
However, we need to understand that nothing is written in stone. On a Soul level we are co-creators of our experiences and us such can amend our own record by making choices and taking actions here on a physical level. The Akashic Records are a living organism and the information recorded there may be amended - added (when you make new choices) or deleted (when we remove our energetic blockages).
For every single one life the destiny is predetermined and cannot be amended, but you can make different choices to fulfil your destiny. The end result will be the same but the route to the destination you bound to can be different. You can get there by choosing positive or negative life experiences and so on.