Step 1

Preheat the oven to 350 degrees F. Spray a 10-cup Bundt or tube pan with vegetable oil cooking spray.

Step 2

Drizzle the cajeta into the prepared pan, turning to coat the bottom and sides. Set aside.

Step 3

Using an electric mixer, beat the milks, eggs, vanilla extract, and salt. Pour the mixture into the pan. Place the pan inside a large roasting pan. Fill the roasting pan with enough water to come halfway up the sides. Cover the Bundt pan with foil.

Step 4

Bake until the center jiggles slightly when pan is moved, about 1 hour 40 minutes. Remove from the oven and let cool at room temperature for 30 minutes. Refrigerate, covered, for 3 hours or overnight.

Step 5

Turn the flan out onto a platter. Sprinkle with toasted coconut and serve.