Preheat oven to 390°F (200°C). Line cake pan with baking paper.
Whisk eggs and sugar together with a mixer until they're pale and fluffy.
Melt the butter in a saucepan and add the milk.
Mix the dry ingredients together and sift into the egg mixture. Carefully fold the batter, mixing as little as possible while still getting a smooth batter. Add the melted butter and milk, continuing to fold until smooth.
Pour the batter into the cake pan and bake for 18 - 20 minutes, until the top is golden brown but not burnt.
Coconut topping
While the cake is baking, melt the butter in a saucepan. Remove from heat and stir in the brown sugar, granulated sugar, and vanilla. Stir well and then stir in the milk and coconut.
Remove the cake from the oven and pour the coconut topping over the cake. Use a spatula to even out the topping over the cake. Return the cake to the oven and bake for 6 - 8 minutes, until the coconut topping is fully bubbling.
Let the cake cool in the pan before removing and cutting into squares.