Bake the Cake: Preheat your oven according to the directions on the box of chocolate cake mix. Prepare the batter by combining the cake mix with the required eggs, oil, and water. Pour the batter into a greased 9×13-inch baking pan and bake as instructed on the package, typically 28–32 minutes. The cake is done when a toothpick inserted in the center comes out clean. Let the cake cool in the pan for about 10 minutes after baking.
Poke and Soak: While the cake is still warm but no longer piping hot, use the handle of a wooden spoon to poke holes across the surface of the cake. Space the holes evenly so the liquids can distribute well. Slowly pour the sweetened condensed milk over the top, followed by the caramel sauce, allowing the mixture to seep into the holes and saturate the cake layers. Let the cake sit until it cools completely to room temperature—this may take 30–40 minutes.
Make the Coconut-Pecan Topping: In a medium-sized saucepan, combine the evaporated milk, granulated sugar, butter, and egg yolks. Cook over medium heat, stirring continuously with a heatproof spatula or wooden spoon. As the mixture heats, it will thicken and become glossy—this takes about 5 to 7 minutes. Be sure not to stop stirring, as the eggs can scramble. Once the topping has thickened to a custard-like consistency, remove it from the heat and stir in the shredded coconut, chopped pecans, and vanilla extract. Let the mixture cool for 5–10 minutes so it thickens slightly further.
