Begin by separating the egg yolks from the egg whites. Allow both to attain room temperature.

Arrange three 8-inch cake pans, lining them with parchment paper circles. Thoroughly grease the sides, ensuring extra attention to the corners. Preheat the oven to 350°F (176°C).

In a medium-sized mixing bowl, combine the flour, baking soda, and salt. Set aside.

In a larger mixing bowl, amalgamate the butter, shortening, sugar, and extracts. Cream them until the mixture is pale and airy, taking approximately 3-4 minutes.

Incorporate the egg yolks sequentially, ensuring each yolk is mostly combined before adding the next.

Gradually integrate a third of the pre-prepared dry ingredients, followed by half of the buttermilk. Continue this alternating pattern until all components are combined. Ensure thorough mixing, but avoid over-mixing.

In a separate bowl, whisk the egg whites to form stiff peaks. Care must be taken not to overwhip.

Gently fold a third of the whipped egg whites, along with the coconut and toasted pecans, into the primary batter. Subsequently, integrate the remaining egg whites.

Portion the batter equally among the prepared cake pans. Bake for approximately 25-30 minutes or until a testing skewer emerges clean.

Once baked, allow the cakes to rest briefly in the pans before transferring them to cooling racks.

In a mixing bowl, cream the cream cheese until it achieves a smooth texture. Set aside.

In another bowl, whip together the heavy whipping cream, powdered sugar, and vanilla extract until it forms stiff peaks.

Gently fold one third of the whipped cream mixture into the creamed cheese. Continue in portions until they are fully combined.

Prior to assembling, level the cakes by removing any domes to ensure they are flat.

Position the first cake layer on an appropriate serving plate or a cardboard cake circle. Uniformly spread approximately 1 cup of the prepared frosting atop this layer.

Position the second cake layer and repeat the frosting procedure.

Place the final cake layer atop the frosted layers, ensuring any protruding frosting is neatly tucked in at the sides. For best results, consider refrigerating the cake for 15-20 minutes at this stage.

Proceed to frost the exterior of the cake meticulously. The toasted coconut can then be pressed onto the cake's sides for an elegant finish.

Employ the remaining frosting to craft decorative designs on the cake's top edge, then gracefully embellish with pecan crumbs.

It is advisable to refrigerate the cake until it is to be served. Ideally, remove from refrigeration and allow it to sit at room temperature for 1-2 hours before serving.