Place coconut, sweetened condensed milk, powdered sugar, and vanilla extract in a medium mixing bowl.
Use a hand mixer to beat together until fully combined.
STEP THREE: Place the bowl in the freezer for 10 minutes to allow the mixture to firm up enough to make scooping easier.
After chilling for 10 minutes, use a cookie scoop to scoop balls of the coconut mixture onto a baking sheet lined with parchment paper.
Place the baking sheet with scoops into the freezer to harden - 60 minutes.
Once the coconut scoops are firmed up, place both the white and milk chocolate chips and a tablespoon of shortening in a microwave-safe bowl.
Heat in 30-second increments, stirring between each, until chips are mostly melted.
Stop heating and continue stirring until the mixture is fully melted and smooth.
Remove just 1 to 2 coconut balls from the freezer at a time. Use a fork to dip and roll each coconut ball in the melted chocolate. Lift from the chocolate, tap to remove excess chocolate, and place on a sheet of waxed or parchment paper to set.
Continue dipping and setting a couple of coconut balls at a time.