This is very good and can be frozen ahead.
1/4 cup butter or margarine
1 (7 ounce) pkg flaked coconut
1/2 cup chopped pecans
1 (8 ounce) cream cheese, softened
1 can Eagle Brand condensed milk
1 (16 ounce) frozen Cool Whip, thawed
2 baked 9 inch pastry shells
1 (12 ounce) jar caramel ice cream topping
Garnish: Pecan halves
1. Melt butter in a large skillet. Add coconut and 1/2 cup pecans, cook until golden, stirring frequently.
2. Set aside to cool.
3. Combine cream cheese and condensed milk, beat at medium speed until smooth. Fold in whipped topping.
4. Layer 1/4 of cream cheese mixture in each shell. Drizzle 1/4 of caramel mixture over each pie.
5. Sprinkle 1/4 coconut on top.
6. repeat layer of cream cheese, caramel, and coconut.
7. Cover and freeze at least 8 hours. Let pie stand at room temperature at least 5 minutes before serving.