Preheat the oven to 350 degrees F (175 degrees C). Spray a 12-well mini fluted tube pan (such as Bundt(R)) with cooking spray.
Combine cake mix, eggs, water, butter, sour cream, sugar, pudding mix, and vanilla extract in a large bowl. Blend together using an electric mixer on medium speed, about 3 minutes. Fill each well 2/3-full of batter.
Bake in the preheated oven until cakes spring back when touched, 14 to 17 minutes.
Pour caramel sauce into a small microwave-safe bowl. Warm in the microwave until smooth, 1 to 2 minutes. Dip the top of each cake in the sauce and sprinkle with toasted coconut.
Place hot fudge sauce in another microwave-safe bowl and warm until smooth, 1 to 2 minutes. Drizzle over the cakes.