Step 1

For the cake: Adjust oven rack to middle position and preheat oven to 325°F. Grease bundt pan with baking spray or vegetable oil. Sprinkle bottom evenly with walnuts and coconut.

Step 2

In a medium bowl, whisk together flour, pudding mix, baking powder, and salt; set aside.

Step 3

In the bowl of a stand mixer fitted with a paddle attachment, cream together butter and sugar until fluffy, about 3 minutes. Add vegetable oil and milk and beat to combine. Beat in dry ingredients, followed by eggs. Beat in rum and vanilla extract. Fold in dates with a rubber spatula.

Step 4

Pour batter into prepared pan and smooth top. Bake until a cake tester inserted into the cake comes out clean, about 55 minutes. While cake is cooling, make sauce.

Step 5

For rum sauce: Combine butter, water, sugar, and rum in a medium saucepan over medium high heat. Let come to a boil, stirring occasionally, then reduce heat and let simmer until slightly thickened, about 7 minutes. Take off heat.

Step 6

Use a chopstick or toothpick to poke holes all over the top of the cake. Carefully pour rum sauce over cake until all is absorbed. Let stand at least 20 minutes before serving.