Preheat oven to 350 degrees, 325 for dark or coated pans. Grease and flour sides and bottom of the bundt pan.
Blend cake mix, milk, water, oil, and eggs in a large bowl until moistened. Beat at medium speed for 2 minutes. Fold in,by hand,1 c. of coconut until well incorporated. Pour batter into bundt pan and bake at 350 for 38-43 minutes. After cake is removed from the oven, cool in the pan for 10-15 minutes then invert it onto your serving platter. While cake is cooling slightly, toast the remaining 1/2 c. of coconut until lightly browned. Set aside. Drizzle top of cake with carmel topping, about 5 or 6 tablespoons. Sprinkle with toasted coconut. You can also dust it with a little powdered sugar, if you prefer. Refridgerate any left over cake.
Not a NESTLÉ®-tested recipe.