Preheat oven to 350°F. Grease two 9-inch cake pans.
Beat egg whites until foamy and add ½ cup of the sugar. Whip egg whites to stiff peaks. Set aside.
Cream butter, oil, remaining sugar, and vanilla until fluffy.
Add egg yolks and mix well.
Combine flour and baking powder. Add to batter alternating with buttermilk; mix just until combined.
Fold in pecans and coconut.
Gently fold in whipped egg whites.
Divide into pans and bake 25–35 minutes. Cool completely before frosting.
Beat softened butter and cold cream cheese until smooth.
Add powdered sugar and vanilla; whip until light and fluffy.
Frost cake and top with 2 cups toasted coconut
