**Preheat the Oven:** Preheat your oven to 350°F (175°C). Grease and flour a 9x9-inch baking dish or loaf pan, or line it with parchment paper.
**Mix the Wet Ingredients:** In a large mixing bowl, whisk together granulated sugar, brown sugar, and vegetable oil until smooth. Add the eggs one at a time, beating well after each addition. Stir in vanilla extract.
**Combine the Dry Ingredients:** In a separate bowl, whisk together flour, baking powder, baking soda, and salt. Gradually add the dry mixture to the wet ingredients, mixing until just combined.
**Fold in Pecans:** Gently fold in the chopped pecans (and shredded coconut if using) until evenly distributed.
**Bake:** Pour the batter into the prepared baking dish or loaf pan. Smooth the top with a spatula. Bake for 35-40 minutes, or until a toothpick inserted into the center comes out clean.
**Cool and Serve:** Allow the bread to cool in the pan for 10 minutes before transferring it to a wire rack to cool completely. Slice and enjoy!