Creamy Coconut Caramel Corn

Preheat oven to 350°. Pour the condensed milk into a very large, microwave-safe bowl. (The milk will rise and fall as the microwave cycles; in a small bowl, it will spill over.) Microwave, uncovered, at 50% power for 4 minutes. Stir, and return the bowl to the microwave for 12 minutes at 30% power, stirring occasionally. When finished, the condensed milk should be a light golden color with flecks of dark caramelized sugars.

While the milk is caramelizing, toast the coconut: cook the coconut in a dry skillet over medium-low heat, stirring constantly, until it darkens to golden brown.

Toss the popcorn with the caramelized condensed milk and toasted coconut, and spread in a single layer on parchment-covered baking sheets. Bake for 10 minutes, rotating trays halfway through and stirring occasionally.