In a medium saucepan, combine 1/4 cup butter, 1 can of sweetened condensed milk, 1 cup of shredded coconut, and 1 cup of coconut milk. Stir well.

Cook on medium-low heat, stirring constantly for about 10 to 15 minutes until the mixture thickens and pulls away from the sides of the pan.

Remove from heat and stir in 1 cup of heavy cream until fully integrated and smooth.

Allow to cool at room temperature for about 10 to 15 minutes, stirring occasionally.

Pour into serving glasses or bowls. Chill in the refrigerator if desired or serve at room temperature, garnished with optional toppings.