Toasted Coconut, Pecan and Caramel Pie

2 baked 9-inch pie shells
1/4 cup (1/2 stick) butter
1 (8 ounce) package flaked coconut
1/2 cup chopped pecans
8 ounces cream cheese, room temperature
1 (14 ounce) can sweetened condensed milk
1 (12 ounce) container frozen whipped topping, thawed
1 (12 ounce) jar caramel ice cream topping

In a medium skillet, melt butter or margarine over medium heat. Add coconut and pecans. Toss well, and saut� until coconut is lightly browned. Set aside to cool.

In a large mixing bowl, beat cream cheese until fluffy. Add condensed milk and mix until smooth. Fold in whipped topping. Spread 1/4 of cream cheese mixture into each pastry shell. Sprinkle 1/4 of coconut mixture over each pie. Drizzle 1/2 of caramel topping over each coconut layer. Follow with remaining cream cheese mixture, then remaining coconut mixture.

Makes two 9-inch pies.

NOTE: Pies may be served chilled or frozen.