Preheat the oven to 350°F (175°C). Grease and flour an 8-inch round cake pan or line it with parchment paper.
Prepare the dry ingredients: In a medium bowl, whisk together the flour, baking powder, salt, and shredded coconut. Set aside.
Make the batter: In a large mixing bowl, cream the softened butter and sugar together using an electric mixer until light and fluffy. Add the eggs one at a time, mixing well after each addition. Stir in the vanilla extract.
Combine with milk and dry ingredients: Alternately add the flour mixture and the milk to the butter mixture, starting and ending with the flour mixture. Mix until just combined.
Bake the cake: Pour the batter into the prepared cake pan and smooth the top with a spatula. Bake for 25-30 minutes, or until a toothpick inserted into the center comes out clean.
Prepare the condensed milk topping: While the cake is baking, pour the sweetened condensed milk into a small saucepan and heat it over low heat for a few minutes until it becomes slightly thinner and warm.
Assemble the cake: Once the cake is done, remove it from the oven and allow it to cool for about 10 minutes in the pan. Then, turn it out onto a wire rack to cool completely. Once cooled, poke small holes all over the cake using a toothpick or fork. Slowly pour the warm sweetened condensed milk over the top of the cake, letting it soak in.
Chill and serve: Allow the cake to chill for at least 1 hour in the fridge to fully absorb the condensed milk. Serve cold and enjoy the decadent, coconut-flavored delight!
Serving and Storage Tips:
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