This caramel coconut cake recipe is a tropical twist on a classic caramel cake. The cake is moist and tender, and the caramel frosting is sweet and buttery. To make the cake, you'll need flour, sugar, baking powder, salt, eggs, milk, oil, and vanilla extract. For the frosting, you'll need sugar, milk, butter, and vanilla extract. The cake is baked in two layers and then frosted with the caramel frosting. It's perfect for serving at a summer barbecue or luau.