Grease a 9x13 baking dish or pan with shortening or butter, and set it aside.
Blend the vanilla wafers and brown sugar in a food processor until the wafers become fine crumbs, then slowly add the melted butter while blending at low speed. Firmly press the crumbs into the bottom of the baking dish, then place it in the freezer for 20 minutes.
As the crust is freezing, whisk the chocolate pudding mix and cold milk together in a medium or large bowl until the pudding starts to thicken. Let the pudding rest for 4-5 minutes to set.
In a large bowl, use an electric mixer to combine the cream cheese and powdered sugar until smooth. Mix the whipped topping in at low speed until it is thoroughly mixed.
Assembly: Pour 1 cup of the caramel sauce over the crust and spread evenly. Then, carefully spread the chocolate pudding over the caramel sauce. Spoon the cream cheese mixture over the pudding and smooth it out carefully. Cover the dessert with plastic wrap and refrigerate for at least 4 hours.
When you are ready to serve, top with the remaining caramel sauce, the hot fudge sauce, and the toasted coconut. Slice, and serve chilled.