Coat a 9 or 10-inch tube pan or two 12-cup mini muffin pans with butter and then lightly dust with sugar, tapping out the excess. Set aside.
Add just enough water to a large baking or roasting pan so that the water comes about 1/3 up the sides of the tube or muffin pans. Place on the center rack of the oven and preheat to 230° F.
Gently fold together egg yolks, sugar, coconut milk and coconut just to incorporate together, without mixing too much.
Pour the mixture into the pan or evenly divide between the cups and carefully add to the warm water bath. Bake for approximately 50 minutes.
To test the doneness, stick a toothpick into the dessert. When it comes out dry it’s done.
Remove it from the oven and let cool slightly but not completely. While still warm, gently turn the mold(s) over onto a plate to remove. Warning: Unmolding the dessert when it is too hot or cold can cause it to break.