Preheat the oven to 180 °C (top and bottom heat).
Line a small baking tray (ca. 20 x 30 cm) with parchment paper.
Separate the eggs. Whisk the eggs whites until stiff.
Mix together the egg yolks with the flour, sugar, water and flaked coconut; fold in the egg whites.
Transfer the batter to the prepared baking tray.
Bake for approximately 30 minutes (use the toothpick test to check for doneness).
Remove from the oven; cool.
For the glaze
Melt the sugar; continue to cook until golden brown and caramelized.
Chop the chocolate.
Melt the chocolate in the caramel.
Stir in the coconut milk.
Pour the glaze over the cake and allow to set.
Slice the cake into squares and dust with powdered sugar.