Prepare the cake mix according to the package directions.
Stir in drained pineapple and coconut.
Bake cake according to package directions.
Leave the cake in the baking dish and allow to cool for 10 minutes.
Using a the handle of a wooden spoon, poke about 20-25 holes in the cake making sure to evenly distribute them and being careful not to go all the way through to the bottom of the cake.
Pour the sweetened condensed milk evenly over the top of the cake; allow cake to cool completely before the next step.
Add the frosting to a large bowl; fold in Cool Whip until thoroughly combined.
Spread frosting over top of the cake.
Sprinkle chopped pecans over the top of the cake
Refrigerate for at least 4 hours.
Drizzle caramel sauce over the top of the cake before serving.