How to insert up arrow in microsoft word for mac using keyboard shortcut?
Use something like Dash (Free with IAP) or TextExpander (Paid) to define custom shortcuts for those symbols. Next time you want to insert Up Arrow, you just have to type .upar and it won’t change your fonts (since they’re pasted as plain text).

Update: I didn’t realize that you change the font manually. This still can be solved with TextExpander (but not Dash). All you need to is to choose Rich Text (selecting font that have Up Arrow) for the expanded custom arrow, and put a space afterward in the font you use in Microsoft Words.

Eg. You use Monotype Corsiva in Microsoft Words — by assuming that it doesn’t contain Up Arrow. Define your expanded words where Up Arrow is selected as Lucida Grande that supports arrows. Right after the arrow, change the space into Monotype Corsiva. This way, you use two fonts in Microsoft Words, but only Up Arrow is in Lucida Grande. 



P.S. There is an Alfred’s worflow called Symbols that lets you search through the unicode, paste it into your active Text Editor. Take a look at how it works.