Preheat oven to 360 degrees.
Place sweetened condensed milk, 1 cup water, eggs and coconut in the blender and purée the mixture for 1 minute or so. Pour mixture on top of the hardened caramel in the mold or individual molds.
Remove once flan has set and top has achieved a nice golden to brown tan*, about 35 to 40 minutes. Let them cool and serve or cover and refrigerate. They will keep in the refrigerator for a week.
To unmold, remove them from the refrigerator at least 10 minutes before serving, so the caramel will soften. Run the tip of a knife around the flan and turn onto a plate.