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Step 1
Preheat oven to 350°F (177°C). Thoroughly grease the interior of a 6 inch round one-piece cake pan (so no springform pan or pan with removable bottom) with cooking oil spray. Line the bottom with a parchment paper round.
Step 2
Add eggs and condensed milk to a large mixing bowl. Whisk until eggs are fully beaten and incorporated into the condensed milk. Add in the coconut. Whisk until evenly combined. Let the mixture sit for about 10 minutes. This gives the coconut some time to absorb some of the liquid and you will see the mixture thicken.
Step 3
After ten minutes, whisk the batter briefly one more time just to make sure the batter is evenly thick and coconut is evenly distributed. Pour the batter into the prepared cake pan.
Step 4
Bake cake for about 35-40 minutes or until done. When cake is done, the surface will be golden brown and may be puffed up and may have a few cracks. A toothpick inserted should come out clean. The surface of the cake should level once the cake is out of the oven (and the cracks will disappear). Let cake cool completely before decorating or serving.
Step 5
Optional Frosting: After the cake is fully cooled and right before serving, spread a thin layer of the remaining condensed milk across the cake and then sprinkled more shredded coconut on top. I recommend you do this right before serving because otherwise some of the condensed milk will soak into the cake if you add it too early.