Step 1

Preheat the oven to 350°F. Grease and flour three 9-inch round baking pans. In a large bowl, cream the butter, shortening and sugar until light and fluffy, for about five to seven minutes. Beat in the egg yolks and vanilla. Combine the flour and baking soda and add it to the creamed mixture alternately with the buttermilk. Beat it until just combined. Stir in the coconut and pecans.

Step 2

In another bowl, beat the egg whites with clean beaters until stiff but not dry. Fold 1/4 of the egg whites into the batter, then fold in the remaining whites. Pour it into prepared pans.

Step 3

Bake it until a toothpick inserted in the center comes out clean, about 20 to 25 minutes. Cool for 10 minutes before removing from the pans to wire racks to cool completely.

Step 4

For the frosting, beat the cream cheese and butter until smooth. Beat in the confectioners’ sugar and vanilla until fluffy. Stir in the pecans. Spread the frosting between layers and over the top and side of the cake. Store the cake in the refrigerator.