1. In a saucepan, melt 1 cup sugar over medium heat until golden. Pour into a bundt pan, swirling to coat the bottom. Set aside to cool.

2. In a blender, combine sweetened condensed milk, evaporated milk, 3 eggs, and vanilla extract. Blend until smooth and pour over the caramel in the bundt pan.

3. In a separate bowl, cream together butter and 3/4 cup sugar until light and fluffy. Add 2 eggs one at a time, beating well after each.

4. Stir in flour, baking powder, and grated coconut until just combined.

5. Gently spoon this mixture over the custard layer. It will float on top.

6. Place bundt pan in a larger baking dish with hot water (bain-marie method). Bake at 350°F (175°C) for 50–60 minutes or until the cake layer is fully baked.

7. Cool in the pan, then refrigerate for 4 hours or overnight.

8. Run a knife around the edges and carefully invert onto a serving plate. Let the caramel drip over the sides.

9. Serve chilled with optional garnish of extra coconut or fruit.