Making shave soap definitely a "horse of another color". I have been making shave soap for about a year now.
Started off making shave soap pucks aka cake or hard soap. I recently shifted to making a paste-type of shave soap. It lathers much quicker and creates a denser, creamier lather too. My paste-style shave soaps do quite well on that auction site everyone knows about.
I would suggest you keep your glycerin at 10% of the total oils percentage. It has worked fine for me with no issues. Also remember that the water to lye ratio is a higher proportion versus regular cold process soap.
As DeeAnna stated; shave soap is a hot process technique. Since stearic acid melts at 153°F, the melted oils should be kept around 180°F when adding the dual lye solution. You will notice that the stearic acid immediately reacts and creates a clumpy, white mass similar to mashed potatoes watered down.
On YouTube there is an excellent video of a dual lye modified hot process technique based on Carrie Seibert's. She is one of the mainstays of the shave soap movement. Her book: HOW TO MAKE SHAVING SOAP is an excellent guide and reference for those wishing to go down the branch of soapmaking which is shave soaps.
Here is that YouTube link:
Making Dual Lye Shaving Soap | Modified Cold Process Method The recipe listed is the first recipe I used to make a shave soap, however over time I started increasing the water ratio to make it easier to spoon or pour into my 3" PVC cylinder mold.
(She titled it a "modified cold process" when in my IMHO it's more of a modified hot process method.)
Your using lard is a good idea as animal fats work really great in shave soap, you might want to consider using beef tallow as it works wonders in shave soap. Also consider using shea butter instead of cocoa butter as its skin benefits are better
Reduce the coconut oil to around 10% or so. The goal is to create a dense creamy lather, not a bubbly lather. In addition, consider adding about 3-4% sorbitol by oil weight to help boost the lather.
Keep on keeping on... soon you may find yourself falling down the proverbial rabbit hole into shave soap madness!
@lsg - would this thread be better placed in the sub-group SHAVE SOAP in the LIQUID SOAP & CREAM SOAP forum section?