Transforming a can of sweetened condensed milk into a rich caramel dip using either your slow cooker or pressure cooker has long been a favourite trick of mine. There's no mixing or measuring, but there is (obviously) a lot of dairy. This may seem to leave our vegan and lactose-intolerant friends in the caramel-less cold, but I am thrilled to tell you that you can do the exact same thing with a can of sweetened condensed coconut milk.
Pressure cooking is the quickest way to reach your sweet goal. Using your pressure cooker, just add a cup of water to the insert, and set the whole can down in the cooker on top of a heat mat. Cook at high pressure for 45 minutes, let the pressure release naturally, and let the can cool completely before opening it up to reveal the rich, golden sauce inside.
This caramel dip tastes sweet, buttery and rich with a hint of coconut flavour. It's good on ice cream, cakes, and cookies. It's good on apples and pears. It's good right off the spoon.