Preheat oven to 325 degrees F. Spray three 8-inch cake pans with baking spray, set aside.
Sift then whisk first 4 ingredients (dry ones) together, set aside. In another bowl whisk the following 5 ingredients (milks and extracts), set aside.
In a stand mixer fitted with a paddle attachment, beat shortening and coconut oil together until light and fluffy, about 4 minutes on medium speed. Scrape paddle and sides of bowl. On medium-low speed, add eggs—one at a time—beating between each addition. Scrape bowl and paddle again. With mixer speed on lowest speed, add dry ingredients in 3 additions alternating with the wet mixture in 2 additions, beginning and ending with the dry ingredients. Scrape bowl to ensure even mixing. Fold in coconut.
Divide between prepared pans. Bake 30 to 38 minutes, rotating pans halfway. Cake tops will be golden in color and a toothpick inserted will come out with a few moist, not wet, crumbs. Let cakes cool in pans for 10 minutes before inverting onto a wire rack to cool completely. Wrap in plastic wrap and refrigerate until ready to assemble.