Steps

• In a small saucepan, or in a microwave-safe bowl, heat the coconut milk and coconut oil together.
• At the same time, make a dry caramel: heat the sugar, without anything else, in a saucepan, on high heat. Do not use any utensil to mix, stir only by gently tilting the saucepan from time to time. Cook, keeping an eye on it, until all the sugar is reduced to a nicely golden caramel.
• Let the caramel boil for another minute so that it is very colorful. Just before it turns brown, pour the hot coconut milk over it, in two parts.
• Mix to obtain a well-blended caramel sauce. Let it cook for another 2 minutes. Take 3 spoonfuls of the sauce into a small bowl and whisk it with the cornstarch. Return this mixture to the saucepan and whisk everything together.
• Let it cook until the mixture thickens due to the starch. Turn off the heat and add the shredded coconut.
• Pour into 2 jam jars and store in the fridge!

NotesI also tried using vegan margarine instead of coconut oil, and it works great :)