1 1/4 cups flaked or shredded coconut
1 1/4 cups sliced almonds
Caramel:
1 1/2 cups sugar
1/3 cup water
1 1/2 cups heavy cream
Preheat the oven to 350 degrees.
Spread the coconut and almonds on separate baking sheets and toast, stirring occasionally, just until golden brown, 10 to 15 minutes. Set aside to cool.
Caramel: Pour the sugar into the center of a deep saucepan. Carefully pour the water around the sugar, trying not to splash any sugar onto the sides of the pan. Do not stir; gently draw your finger through the center of the sugar to moisten it. Over medium-high heat, bring to a boil without stirring. Reduce the heat to a fast simmer and cook without stirring until amber-caramel in color, 10 to 20 minutes. Immediately remove from the heat. Using a wooden spoon, slowly and carefully stir in the cream (it will bubble up and may splatter). Stir in the toasted coconut and almonds. Set aside.
When ready to serve: If the sauce has stiffened, rewarm it over low heat (or in a microwave) until softened. Place a slice of cake on each plate, drizzle with sauce, and serve.
