- Start by gathering all the ingredients. Separate the eggs and let the butter and cream cheese soften at room temperature. This ensures even mixing. 
- In a bowl, combine flour, coconut, pecans, baking soda, and cinnamon. This mixture brings together flavors that will enhance the cake. 
- In a large bowl, beat together softened butter, shortening, and sugars. Mix until light and fluffy. This step adds air and helps create that perfect texture. 
- Stir in the egg yolks one at a time. You’ll want to make sure each one is fully integrated before adding the next. This creates a rich batter. 
- Add buttermilk, vanilla, and almond extracts into the mixture. The buttermilk not only adds flavor but helps keep the cake moist. 
- Gradually add the dry ingredients to the wet mixture, folding gently. This avoids over-mixing, which can lead to a dense cake. 
- In a clean bowl, beat the egg whites until stiff peaks form. This is key for achieving a light cake. Carefully fold the egg whites into the cake batter, maintaining as much air as possible. 
- Preheat your oven to 350°F (175°C). Grease and flour two round cake pans. Pour the batter evenly into the pans. Bake for 25-30 minutes until a toothpick inserted into the center comes out clean. 
- Once baked, let the layers cool in the pans for about 10 minutes before transferring them to a wire rack. Cooling is crucial to prevent sogginess. 
- While the cakes are cooling, prepare your icing. Beat the softened cream cheese and butter until creamy. Gradually add confectioners' sugar, coconut extract, vanilla, and lime juice. Mix until fluffy. 
- Place one layer on a serving platter. Spread a generous amount of icing on top. Add the second layer, then frost the top and sides evenly. Finally, sprinkle toasted coconut and pecans over the top.