Baking the Italian Cream Cheese Cake is a straightforward process. Follow these steps for the best results:

1. Preheat the Oven: Begin by preheating your oven to 350°F (175°C). Grease and flour three 9-inch round cake pans.
2. Mix Dry Ingredients: In a medium bowl, whisk together the flour, baking soda, baking powder, and salt. Set aside.
3. Combine Wet Ingredients: In a large bowl, mix granulated sugar, brown sugar, and vegetable oil until blended. Add the eggs, one at a time, mixing well after each addition. Incorporate the vanilla extract.
4. Alternate Mixing: Gradually add the dry ingredients to the wet ingredients, alternating with buttermilk. Mix until just combined.
5. Add Coconut and Nuts: Gently fold in the shredded coconut and chopped nuts until evenly distributed.
6. Divide the Batter: Pour the batter evenly into the prepared cake pans.
7. Bake: Place the pans in the oven and bake for 30-35 minutes or until a toothpick inserted into the center comes out clean.
8. Cool: Remove the cakes from the oven and let them cool in the pans for about 10 minutes. Then, remove them from the pans and transfer them to wire racks to cool completely.
9. Prepare the Frosting: In a large bowl, beat the softened cream cheese and butter until smooth. Gradually add the powdered sugar and vanilla extract, beating until fluffy.
10. Assemble the Cake: Once the cakes are completely cooled, place one layer on a serving platter. Spread a generous layer of cream cheese frosting on top. Add the second layer and repeat. Place the final layer on top, covering the entire cake with frosting. Sprinkle additional shredded coconut on top for garnish.