Roll the crust out to a 12 inch circle and drape it over a 9-inch pie pan. Trim/crimp the edges and prick the inside of the crust with a fork. Let it chill for 30 minutes.
Preheat oven to 375F. Line chilled pie shell with foil and then fill with pie weights or dried beans.
Bake for 15 minutes or until the edges start to turn golden. Remove foil/pie weights and continue to bake for another 15 minutes or until crust is a nice golden amber color. (You don't want soggy crust with this pie!)
Set baked crust aside while you prep the filling.
Combine 2 cups of milk and the sugar in a medium-sized saucepan over medium heat. Stir together and heat until simmering.
Whisk egg yolks together and slowly pour about half of the milk mixture into it with one hand while whisking with the other until combined. Pour the egg mixture back into the pot with the rest of milk.
In a small bowl combine the remaining 1/4 cup of milk with the cornstarch until thick and combined. Pour it into the milk mixture and turn the heat back up to medium. Whisk constantly until very thick and bubbling like lava.
Remove from heat and stir in the vanilla, 1 1/2 cups of the coconut and butter.
Spread 1/2 cup of the caramel sauce into the baked crust and top with the pudding. Let cool completely and chill overnight or until ready to serve.
Whip up the cream and dollop it over the chilled pie. Sprinkle with the remaining 1/4 cup of toasted coconut and the remaining caramel sauce.
* To toast coconut, spread it in an even layer on a foil-lined cookie sheet and bake at 350 for about 10-15 minutes, checking it often and stirring it with a spatula if needed.
Recipe loosely adapted from The Food Network