1/4 c. butter
1 (7 oz.) pkg. flaked coconut
1/2 c. pecans, chopped
1 (8 oz.) pkg. cream cheese, softened
1 (14 oz.) can Eagle Brand milk
1 (16 oz.) carton Cool Whip
2 (9 inch) pie shells, baked
1 (12 oz.) jar caramel ice cream topping

Melt butter in a large skillet. Add coconut and pecans, cook until brown. Set aside to cool. Combine cream cheese and milk together; beat until smooth. Fold in Cool Whip. Layer 1/2 of the cream cheese mixture into pie shell. Drizzle caramel topping onto the pie. Sprinkle coconut mixture over the topping. Repeat; cover and freeze until firm.