Coconut Cream Bread Pudding

From Southern Living Magazine

1 8 oz package cream cheese, softened
1-1/2 cups sugar
4 eggs
2-1/2 cups milk
1 15oz can cream of coconut
8 tbsp butter, melted
1 8oz french loaf, cut into 1 inch cubes
Pam
1/2 cup flaked coconut
1/2 cup nuts, chopped

Preheat oven to 350.

Beat cream cheese at low speed until creamy and smooth. Add 1 cup sugar and eggs, and beat at medium speed 2 minutes or until sugar is dissolved. Stir in 2 cups milk, 1 cup cream of coconut, and 3 tbsp melted butter. Stir in bread cubes. Let stand five minutes.

Coat a 9 x 13 baking dish with Pam. Pour bread mixture into dish.

Bake for 35 minutes or until set.

Stir together flaked coconut, nuts, and 3 tbsp melted butter. Sprinkle coconut mixture over baked pudding, and bake 5-8 minutes or until browned.

Stir together remaining 1/2 cup of milk and cream of coconut.

Cook remaining 1/2 cup sugar in a medium saucepan over low heat; stirring constantly, 3 minutes or until sugar is caramelized and mixture becomes a light brown syrup. Stir in milk mixture, and cook, stirring occasionally, 3 minutes or until sauce is thickened slightly and sugar is dissolved. Stir in remaining 2 tbsp melted butter.

Cut bread pudding. Top each serving with caramelized sugar sauce when serving.