Grease and flour three 9-inch round cake pans. Set aside.
In a large bowl cream together shortening, butter and sugar.
Add egg yolks one at a time, beating well after each addition.
In a separate bowl combine flour and baking soda.
Alternate adding the buttermilk and flour into the sugar mixture. Starting and ending with the buttermilk. Be sure to mix well after each addition.
Stir in vanilla.
In a separate bowl, beat egg whites until stiff peaks form.
Fold egg whites into batter.
Stir in coconuts and pecans.
Pour batter into prepared pans and bake for 25-27 minutes.
Remove from oven and let cakes sit in pans for 5 minutes before removing from pans and placing on a cooling rack to finish cooling.
Make the frosting by creaming together cream cheese, butter, vanilla and confectioners sugar.
Stir in coconut and pecans.
Frost & decorate cooled cake layers as desired (see video to see how I frost and decorated)
Video
Notes
Add toasted pecans and toasted coconuts to the garnish the cake if desired. Store in the fridge. Remove and let come to room temperature before serving.