Preheat the oven to 350°F. Line 2 baking sheets with parchment paper, and set aside.
To the bowl of a stand mixer fitted with the paddle attachment (or use a handheld electric mixer and large mixing bowl), add butter, shortening and sugar. Beat on medium-high speed until light and fluffy, about 3 minutes. Add eggs and both extracts and mix until combined.
With the mixer on low speed, sprinkle the flour, baking soda and salt into the bowl. Mix until just combined (do not over mix). Stop mixer and scrape down the sides of bowl. Add macadamia nuts and chips and continue mixing on low speed, just until combined.
Using a 1 tablespoon scoop, arrange dough, about 2 inches apart, onto cookie sheets.
Bake for 9-11 minutes, or until barely golden brown around the edges. Remove from oven and allow to cool on the baking sheet for 5 minutes before transferring to a cooling rack.
Notes
You can use all butter, but you may want to chill the dough for about 30 minutes before baking. This will prevent it from spreading while baking.