Preheat oven to 350°F (175°C).

In a large bowl, cream butter and sugar until light and fluffy. Beat in egg and vanilla.

Whisk together flour, baking powder, and salt. Gradually add to butter mixture until a dough forms.

Roll dough to 1/4 inch thickness and cut into 2-inch circles. Use a smaller cutter to remove the center of each circle.

Place on parchment-lined baking sheets and bake for 10-12 minutes until edges are lightly golden. Cool completely.

Spread coconut on a baking sheet and toast at 350°F for 5-7 minutes, stirring frequently, until golden brown.

In a microwave-safe bowl, heat caramels, milk, and a pinch of salt in 30-second intervals until smooth.

Reserve 1/4 cup of melted caramel. Fold toasted coconut into the remaining caramel.

Spread coconut mixture onto each cooled cookie.

Melt chocolate chips and coconut oil together.

Dip the bottom of each cookie into the chocolate and place on wax paper. Drizzle remaining chocolate over the tops.

Allow cookies to set at room temperature or in the refrigerator before serving.