Preheat oven to 325 degrees. Butter and flour a large bundt pan.
Cream butter, shortening and sugar for at least 2 minutes until lighter in color.
Add eggs, one at a time, and beat well after each.
Sift flour together with soda, salt and baking powder.
Combine the buttermilk with extracts.
Add dry ingredients alternately with the buttermilk mixture, beginning and ending with the dry. Do not overmix.
Fold in the coconut and pour into prepared pan.
Bake for 1 hr and check. It may need to bake longer.