Make the dough: In a mixing bowl, add the warm water and yeast. Let sit for 5 minutes, it should get a bit foamy on top. Now add the rest of the dough ingredients, and mix. Knead a little with your hands to combine. It should be sticky. Cover with a towel and set aside to rise for about 2 hours, then stick it in the fridge to cool.
Make the caramel: Melt the vegan butter in a small pan over medium heat. Now add the coconut milk and brown sugar, and stir. Bring to a boil and stir constantly for 5 minutes. Remove from heat. Add a sprinkle of salt, if desired.
Preheat the oven to 350 degrees F and lightly grease a bundt or pie pan.
Assemble: Punch the cold dough gently to release the air bubbles. Pull apart and shape into 1 1/2 inch balls. In prepared pan, layer 1/4 cup caramel, dough balls, 1/4 cup caramel, dough balls and pour 1/4 more cup caramel on top. Reserve the remaining caramel.
Bake for 25-30 minutes, or until the top pieces are starting to get golden. Cool for 5-10 minutes, and then invert carefully onto a serving plate. Drizzle extra caramel on top, if desired, and serve. Enjoy!