Preheat and Prepare
Preheat your oven to 350°F (175°C). Grease and flour your cake pan or line it with parchment paper.
Make the Batter
In a large bowl, whisk together the sweetened condensed milk, whole milk, eggs, melted butter, and vanilla extract until smooth.
Gradually add the flour, whisking until the batter is lump-free.
Bake the Cake
Pour the batter into the prepared pan and bake for 35-40 minutes, or until a toothpick inserted in the center comes out clean.
Let the cake cool slightly on a cooling rack while you prepare the topping.
Prepare the Topping
In a saucepan over medium heat, combine the coconut milk, sweetened condensed milk, and shredded coconut. Cook until the mixture thickens slightly, stirring continuously to prevent burning.
Assemble the Cake
Poke small holes all over the surface of the warm cake using a fork or skewer.
Pour the warm topping mixture evenly over the cake, allowing it to soak in.
Cool and Serve
Let the cake cool to room temperature, then chill in the refrigerator for at least 1 hour before serving.