Preheat the oven to 400º
Butter 6 eight-ounce ramekins.
In a medium bowl, stir together the egg yolks, the condensed milk, the milk, and the grated coconut.
Beat the egg whites until they hold soft peaks, then fold the egg whites gently into the coconut mixture.
Ladle the mixture into ramekins. Place the ramekins in a baking pan and fill the pan half way to make a water bath.
Bake for 30-35 minutes. Remove the ramekins from the water bath and chill thoroughly.
Unmold onto individual dessert plates and drizzle with caramel sauce.