Mix the lye and water. Carefully add the lye to the water and stir until it is fully dissolved. The liquid will shoot up in temperature. Set aside to cool in a safe place.
Melt the oil and butters. Measure the oils separately, then combine them in a large pot. Melt the over medium-low heat until the beeswax is fully melted. Set aside to cool.
Stick blend to trace. Once the lye water and oils have both cooled to about 100-115 degrees, it's time to blend. Get out your soap mold, exfoliating additions, and any fragrance or color you'd like to add. Pour the lye water into the pot with the oils and blend with your stick blender until you reach trace. Add fragrance and color if using, and quickly pour into the soap mold.
Cure and unmold. Allow the soap to cure in the mold for 24-48 hours, then carefully remove it. Slice into bars. Store in a well-ventilated place and let it cure more for at least 3 weeks before using.