1/4 cup margarine
1 7 oz package flaked coconut
1/2 cup chopped pecans
1 8 oz cream cheese, softened
2 baked pie crusts
1 14 oz Eagle Brand Sweet Condensed Milk
1 16 oz frozen whipped topping
1 12 oz jar caramel ice cream topping
Melt margarine in large skillet. Add coconut and chopped nuts. Cook until golden brown, stirring frequently. Set aside.
Combine cream cheese and condensed milk. Beat until smooth, fold in whipped topping. Layer 1/4 cream cheese mixture in each pie shell. Drizzle 1/4 of caramel topping on each pie. Sprinkle 1/4 of coconut mixture evenly over pie.
Repeat layers with remaining ingredients. Cover. Freeze until firm. Let stand at room temperature for 5 minutes before serving. Keep refrigerated. Pies can be kept in freezer for several days before using.