In a large skillet over medium-high heat, add sweetened shredded coconut and cook for about 4–5 minutes, stirring constantly until golden brown. Allow it to cool.

In a microwave-safe bowl, combine dulce de leche with a splash of milk. Heat for about 1.5 minutes, stirring halfway through, until smooth.

In a mixing bowl, combine heated dulce de leche with most of the toasted coconut, stirring until fully integrated.

In another large microwave-safe bowl, combine mini marshmallows and butter. Heat for 2 minutes, stirring every 30 seconds until fluffy and melted.

Add Rice Krispie cereal to melted marshmallow mixture and fold until evenly coated.

Grease an 8x12 inch pan. Press half of the Rice Krispie mixture into the bottom, pour caramel-coconut blend over it, then top with remaining Rice Krispie mixture.

Melt semisweet chocolate in a microwave-safe bowl for about 1 minute, stirring until smooth. Spread over the top layer and sprinkle with reserved toasted coconut.