Preheat oven to 350°.
Place shaved coconut in a single layer in on a cookie sheet
Place pecans on a second cookie sheet.
Bake coconut and pecans at the same time 5 to 7 minutes or until coconut is toasted and pecans are lightly toasted and fragrant, stirring each halfway through cooking.
Using a heavy stand mixer beat butter and shortening at medium speed until fluffy
gradually add granulated and brown sugars, beating well.
Add egg yolks, 1 at a time, beating until blended after each addition.
Add vanilla, beating until blended.
Combine flour and baking soda
add to butter mixture alternately with buttermilk, beginning and ending with flour mixture.
Beat at low speed just until blended after each addition.
Stir in pecans and 1 cup sweetened flaked coconut.
Using another bowl,beat egg whites at high speed until stiff peaks form, and fold into batter.
Pour batter into 3 greased and floured 9-inch round cake pans.
Bake at 350° for 23 to 25 minutes or until a wooden pick inserted in center comes out clean.
Cool in pans on wire racks 10 minutes; remove from pans to wire racks, and cool completely (about 1 hour).
Prepare Quick Caramel Frosting. Immediately spread frosting between layers and on top of cake. Spread Cream Cheese Frosting over sides of cake; press 3 cups toasted shaved coconut onto sides of cake.