1. Make the crust: In a large bowl, whisk together flour and salt. Using a pastry cutter, cut in lard and butter until mixture resembles coarse crumbs, about the size of peas. Sprinkle with water, 1 tablespoon at a time, and mix lightly with a fork after each addition, until mixture is moistened. Turn out dough onto a clean work surface and shape into a flattened disk. Wrap in plastic; transfer to refrigerator and chill for 30 minutes.

2. Preheat oven to 425 degrees.

3. Lightly flour a pastry cloth and roll out dough on cloth, using a covered rolling pin, to a 12-inch round, about 1/8-inch thick. With a dry pastry brush, sweep off excess flour; fit dough into a 9-inch glass pie plate. Trim to a 1/2-inch overhang all around. Fold under and crimp edges.

4. Prick all over bottom and sides with the tines of a fork. Transfer to oven and bake until golden brown, about 16 minutes. Transfer to a wire rack and let cool completely.

5. Make the filling: In a medium saucepan, whisk together pudding mix and milk. Place over medium heat and cook, stirring, until mixture thickens and comes to a boil. Remove from heat and transfer to a medium bowl. Cover with plastic wrap, pressing down on the surface to prevent a skin from forming. Transfer to refrigerator and let chill.

6. Fold 1/4 cup whipped cream, coconut, walnuts, and bananas into pudding. Pour filling into cooled pie crust, spreading evenly with a spatula. Transfer remaining 1 cup whipped cream to a pastry bag fitted with a 1/2-inch star tip (such as Ateco #825). Decoratively pipe whipped cream around edge of pie; sprinkle with coconut and walnuts. Keep pie refrigerated until ready to serve; pie is best served the day it is made.