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Preheat oven to 325°F
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Grease and flour a 12 cup tube or bundt pan.
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Beat butter and cream cheese at medium speed with an electric mixer until creamy.
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Gradually add sugar, beating at medium speed until light and fluffy.
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Add eggs, 1 at a time, beating just until the yellow yolk disappears.
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Sift together flour and salt; add to butter mixture.
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Beat batter at low speed just until blended after each addition.
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Stir in vanilla, pecans, and coconut.
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Pour batter into a greased and floured 12-cup tube pan.
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Bake for 1 hour and 30 minutes to 1 hour and 35 minutes or until a wooden pick inserted in center of cake comes out clean.
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Cool in pan on a wire rack 10 to 15 minutes.
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Remove from pan; cool completely on wire rack.