Preheat the oven to 350 degrees. Grease a 9 x 13 pan with cooking spray and set aside.
Mix the cake mix, coconut milk, eggs, and vegetable oil together.
Pour into 9 x 13 pan. Bake for 28 minutes or until a toothpick stuck two inches from the edge comes out with just a few crumbs.
Let the cake cool for about 10 minutes, then poke small holes throughout the cake.
Pour the caramel topping into the holes, making sure that you get some in each whole.
Top with cool whip, toasted coconut and additional caramel (or hot fudge).