Preheat your oven to 350°F (175°C). Grease and flour two 9-inch round cake pans.
In a small saucepan over low heat, melt the chopped white baking chocolate. Stir continuously until smooth, then set aside to cool slightly.
In a medium bowl, whisk together the all-purpose flour, baking soda, and salt. Set aside.
In a large mixing bowl, cream the softened butter and 1 cup of granulated sugar until light and fluffy, about 3-5 minutes.
Add the egg yolks, melted white chocolate, and 2 teaspoons of vanilla extract to the butter-sugar mixture. Beat until well combined.
Gradually add the dry ingredients to the wet mixture, alternating with the buttermilk. Mix until just combined.
In a clean bowl, beat the egg whites until stiff peaks form. Gently fold the egg whites into the cake batter.
Fold in the finely chopped pecans, ensuring they are evenly distributed throughout the batter.
Divide the batter evenly between the prepared cake pans. Bake for 25-30 minutes or until a toothpick comes out clean. Allow to cool in the pans for 10 minutes before transferring to a cooling rack.
In a saucepan over medium heat, combine the evaporated milk, 1 ¼ cups granulated sugar, 1 cup butter, and light brown sugar. Stir constantly until thickened, about 10 minutes.
Remove from heat, whisk in the egg yolks, return to heat and cook for 2-3 minutes. Fold in shredded coconut and 2 teaspoons of vanilla extract. Let cool slightly.
Once the cake layers are completely cool, place one layer on a serving plate. Spread frosting on top, then place the second layer on top. Frost the top and sides with remaining frosting.
For an added touch, sprinkle additional chopped pecans and shredded coconut on top. Slice and serve this stunning cake.
