Preheat your oven to 350°F (175°C) and prepare a rimmed baking sheet with parchment paper.

In a bowl, whisk together the all-purpose flour, baking soda, and salt.

In a separate bowl, cream together the butter, vegetable oil, granulated sugar, and brown sugar until fluffy.

Mix in the egg yolks one at a time, followed by the vanilla extract.

Gradually add the dry ingredients alternating with buttermilk, starting and ending with flour.

Fold in the shredded coconut and optional pecans.

Beat the egg whites until stiff peaks form and fold them into the batter.

Pour the batter into the prepared pan and bake for 30-35 minutes.

After baking, let the cake cool in the pan for 10 minutes before transferring it to a wire rack.

Once cooled, spread the cream cheese frosting over the cake and garnish as desired.