Preheat your oven to 350°F (175°C) and grease a 9 by 13 inch pan.

If using a box mix, follow package directions to mix. If making from scratch, whisk dry ingredients together, then add eggs, buttermilk, oil, and vanilla. Stir until smooth, then blend in hot coffee or water.

Pour batter into the prepared pan and bake for 28 to 34 minutes, or until a toothpick comes out mostly clean.

While the cake bakes, in a saucepan whisk together evaporated milk, egg yolks, butter, and sugar over medium heat. Stir constantly until thickened (about 8 to 10 minutes). Remove from heat and stir in vanilla, coconut, and pecans. Allow to cool for 10 minutes.

When the cake is done, let it sit for 5 minutes. Use a wooden spoon handle or skewer to poke deep holes evenly across the surface.

Pour sweetened condensed milk all over the cake, letting it sink into the holes. If using caramel, drizzle it as well. Allow a few minutes for absorption.

Spread the coconut pecan frosting over the top of the cake, adding a splash of evaporated milk if too thick.

For an optional chocolate finish, heat heavy cream until steaming, pour over chocolate chips, let sit for 2 minutes, then stir to smooth and drizzle over the frosted cake.

Cool completely before slicing. For cleaner cuts, chill for at least 1 hour.