This was my grandma's favorite cake ever! Now I understand.

Heat the oven to 350°F (175°C). Put grease and flour on three 9-inch round cake pans.
Mix 1/2 cup of butter and shortening until fluffy. Add sugar and mix thoroughly.

Add one egg yolk at a time, then add one tablespoon of vanilla. Sift the flour and baking soda, then add them alternately with the buttermilk. Add coconut and pecans and mix well.

Whisk the egg whites until they are stiff, then gently mix them into the batter.
Put the batter into the pans and bake for 25-30 minutes. Let the pans cool for 10 minutes, then transfer the baked goods to wire racks.
For the icing: Mix together cream cheese, 1/2 cup of butter, and 1 teaspoon of vanilla. Add powdered sugar little by little.
The frost made the cake layers, sides, and top cold.
Sprinkle with pecans and coconut.