Preheat oven to 350 degrees.

Spray a donut pan with non stick cooking spray.

In a mixing bowl combine the cake mix, milk, oil and egg. Mixed until combined. Spoon batter into a ziplock bag. Cut the tip off the bag and pipe into donut pan dividing evenly between all six donut forms.

Bake for 10 minutes or until donuts spring back when pressed. Cool. Remove from donut pan.

Melt Chocolate Candiquik according to package directions. Stir in oil. Dip the bottom of each donut in chocolate, flip upside down and cool on wire rack.

In small saucepan melt the caramel bits and milk, stirring frequently. Stir in toasted coconut and mix. Dip the unfrosted side of donut in caramel mixture and set on wire rack with the chocolate side facing down. Cool. Remelt remaining chocolate from dipping donuts and drizzle over the top of caramel frosting.