1. Preheat oven to 350°F (175°C) and grease three 8 inch round cake pans

2. In a large mixing bowl beat butter oil and sugar until light and fluffy

3. Add egg yolks one at a time mixing well after each addition

4. Stir in vanilla extract

5. In a separate bowl whisk together flour baking soda and salt

6. Alternate adding the flour mixture and buttermilk to the batter mixing gently

7. Fold in shredded coconut and chopped pecans

8. In another bowl beat egg whites until stiff peaks form

9. Carefully fold egg whites into the cake batter to keep it light

10. Divide the batter evenly between prepared cake pans

11. Bake for 25 to 30 minutes or until a toothpick inserted in the center comes out clean

12. Let cake layers cool completely on a rack

13. Beat cream cheese and butter together until smooth

14. Gradually add powdered sugar and vanilla extract beating until creamy

15. Place the first cake layer on a serving plate and spread frosting on top

16. Repeat with remaining layers then frost the top and sides of the cake

17. Sprinkle chopped pecans over the top and sides for garnish