Preheat oven to 350 degrees. Trace the bottom of 9-inch cake pans onto parchment paper and cut out. You will need 3 9-inch pans for this recipe.

Lightly grease cake pans, place parchment paper in bottom of each pan and lightly grease the top of the parchment paper.

Place chocolate in a microwave safe bowl, add ½ cup water, and microwave on HIGH for 30 seconds; remove and stir; place back in microwave for an additional 30 seconds or until melted.

Combine flour, baking soda, and salt, in a medium bowl and set aside.

Beat sugar and butter together on medium speed with an electric mixer until fluffy.

Add egg yolks one at a time beating just until blended after each addition.

Stir in chocolate mixture and vanilla.

Add flour mixture alternating with the buttermilk beginning and ending with the flour mixture. Beat at low speed just until blended after each application.

Beat eggs whites at high speed until stiff peaks form and then very gently fold into batter.

Pour batter into prepared pans.

Bake at 350 degrees for 25 to 30 minutes until a toothpick inserted in the center comes out clean.

Remove from oven, gently run a knife around the outer edge of each cake to loosen.

Cool in pans on wire rack for 15 minutes.

Remove from pans discarding parchment paper and allow to continue to cool on wire racks completely.

Using a heavy-duty 3 quart saucepan, cook evaporated milk, sugar, butter and eggs yolks over medium heat stirring constantly until the butter melts and the sugar dissolves. Cook, stirring constantly, an addition 12 to 14 minutes until the mixture turns a light caramel color and is bubbling. It will have the consistency of pudding.

Remove from heat and stir in vanilla and flaked coconut. Transfer mixture to a bowl and allow to cool stirring occasionally.

Once the frosting and cakes have cooled completely, spread frosting between layers and on top.