Prepare the pie crusts by baking as directed. If using graham cracker, brush the crusts lightly with beaten egg and bake on cookie sheet at 375 for exactly 5 minutes.
In a large skillet, melt the butter. Add the coconut and pecans and stir the mixture until fragrant and coconut starts to brown around the edges. Remove from heat and let cool completely.
In a large mixing bowl, beat the softened cream cheese and sweetened condensed milk until smooth; fold in the whipped topping.
Layer about a third of the cream cheese mixture in each pastry shell, drizzle with a third of the caramel topping, then sprinkle on a third of the coconut mixture. Repeat until you’ve used all the filling. Also, if your caramel sauce is thicker, you may need to spoon it and drag it rather than drizzle. If desired, pipe extra whipped topping around the sides.
Cover and freeze pies at least 8 hours. Let frozen pies stand at room temperature 5 minutes before slicing.