In a heatproof bowl, combine the chopped white chocolate, heavy cream, and softened butter. Place the bowl over a saucepan of simmering water, ensuring the bottom of the bowl doesn't touch the water. Stir occasionally until the chocolate is completely melted and the mixture is smooth.
Remove the bowl from the heat. Stir in the shredded coconut and vanilla extract until well combined.
Cover the bowl and refrigerate for at least 1 hour, or until firm enough to roll into balls.
Once chilled, roll the mixture into 1-inch balls and place them on a parchment-lined baking sheet.
In a separate microwave-safe bowl, combine the semi-sweet chocolate chips and coconut oil. Microwave in 30-second intervals, stirring in between, until melted and smooth.
Dip each truffle into the melted chocolate, coating it completely. Place the coated truffles back on the parchment-lined baking sheet.
Refrigerate for another 30 minutes to allow the chocolate coating to set.
Notes
Store truffles in an airtight container in the refrigerator for up to a week.