• Preheat oven to 350 degrees F. Grease and flour 3 9-inch cake pans. Set aside.
  
• Beat butter and shortening with an electric mixer at medium speed until fluffy. Gradually add sugar, beating well. Add egg yolks, one at a time beating until blended after each addition. Add vanilla and incorporate.
  
• Combine flour and baking soda; add to butter mixture alternately with buttermilk, beginning and ending with flour mixture. Beat at low speed until blended after each addition. Stir in coconut.
  
• In separate mixing bowl, beat egg whites until stiff peaks for and fold into batter.
  
• Pour batter into prepared pans and bake at 350 degrees F for 25 minutes or until wooden pick inserted in center comes out clean.
  
• Cool in pans on wire racks 10 minutes; remove from pans and cool completely before frosting with Nutty Cream Cheese Frosting.
  

To make frosting:

• Beat cream cheese, butter and vanilla at medium speed with an electric mixer until creamy. Add confectioners' sugar in stages, beating well, on low speed, after each addition, until blended. Beat frosting at high speed until smooth.