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

Melt butter in a large skillet. Add coconut and chopped pecans; cook until golden brown, stirring frequently. Set the mixture aside. Combine cream cheese and sweetened condensed milk; beat until smooth. Fold in Cool Whip. Layer 1/4 of cream cheese mixture in each pastry shell. Drizzle 1/4 of caramel topping on each pie. Sprinkle 1/4 of coconut mixture evenly over each pie. Repeat layers with remaining ingredients; cover and freeze until firm. Let stand at room temperature for 5 minutes before serving.