2 9-inch pie crusts baked
14 oz. can sweet condensed milk
16 oz. cool whip thawed
1/2 c. chopped pecans
7 oz. flaked coconut
1/4 c. butter
8 oz. cream cheese, softened
12 oz. caramel ice cream topping

Melt butter, add coconut and nuts. Cook until golden brown.

Combine cream cheese and condensed milk, beat until smooth. Fold in whipped topping. Layer 1/4 of cheese mixture into each baked crust. Drizzle 1/4 of caramel topping over cheese mixture, sprinkle with coconut mixture. Repeat layers. Freeze until firm. Let stand 5 minutes at room temperature before cutting.