Like a pineapple upside-down cake, infused with the flavors of coconut and a caramel topping. Canned pineapple keeps it very soft, moist, and not too sweet.
When baking, the caramel could boil over, so the baking sheet will catch any excess. Baked caramel is a pain to clean off the bottom of the oven.
The coconut milk you need should have a creamy consistency. If it's semi-clear and watery, that's coconut water.
Variation: Replace the vanilla in the caramel sauce and cake with tequila to create a pina colada cake.