Prepare the brownies according to instructions from this recipe in an 8x8 square baking pan. Line your baking pan with two wide strips of parchment paper, one running each direction so they are perpendicular to each other. This will help you lift the brownies out once they are done. Let the brownies cool completely.
Add the sugar and one tablespoon of water into a nonstick skillet over slightly higher than medium heat. Melt the sugar until it is fully melted and dark amber in color. The sugar will clump up at first before melting completely. While you are melting the sugar, avoid stirring too much with a whisk or spatula. Instead, lift up the pan and give it a few shakes every once in a while to prevent burning.
Once the sugar is fully melted, turn down the heat to medium-low and add in all of the butter. It will immediately begin to bubble. Now is when you being to aggressively stir, using either a whisk or rubber spatula. Stir until butter is fully melted.
Pour in the heavy whipping cream while continuing to stir. Reduce the heat to low and continue cooking and stirring for another 1-2 minutes, or until caramel starts to thicken. Remove the pan from heat and stir in the salt, vanilla, and shredded coconut until fully combined.
Spread the caramel mixture into an even layer on top of the brownies. Let the caramel cool completely.
Run a knife along the edges of the pan if needed. Then, use the parchment paper to lift the brownies out of the pan.
Melt the chocolate chips with the oil in the microwave for 20 second spurts, stirring between each until the chocolate is fully melted. Drizzle over the brownies.
Cut the brownies into 16 squares and enjoy!