In a large bowl, cream butter and confectioners' sugar until light and fluffy. Add eggs, one at a time, beating well after each addition. Add vanilla. Combine flour and salt; stir into creamed mixture just until combined. Stir in coconut and pecans.
Pour into a greased and floured 10-in. tube pan; spread evenly. Bake at 325° for 60-65 minutes or until a toothpick inserted in the center comes out clean. Cool for 10 minutes before removing from pan to a wire rack to cool completely.