Coconut Caramel Pie

This is the Pie I made for Thanksgiving a few years ago. It is delicious.

1 package flaked coconut (7 ounces)
6 tablespoons butter
1 cup chopped pecans
1 cup sweetened condensed milk
1 carton whipped topping (16 ounces)
1 package cream cheese (8 ounces)
1 jar caramel topping (12 ounces)
2 deep dish pie shells, baked

Preparation: Melt butter in a heavy skillet. Add coconut and chopped pecans; cook until browned lightly then set aside. In a mixing bowl, combine cream cheese and condensed milk; beat well. Fold in whipped topping. Put 1/4 of the mixture into each pie shell. Drizzle 1/4 jar of the caramel topping on each, then sprinkle with about 1/4 of the coconut-pecan mixture. Repeat layers. Freeze. Serve frozen.