Into a bowl, start by adding the tapioca, the dry grated coconut (set some aside for later), add the coconut milk and the condensed milk, mix very well and set aside.
Into a saucepan over medium heat, add the milk, the sugar and the butter, mix very well for 1 minute and let the milk heat up.
Meanwhile, grease a ring cake mold with butter and spread some of the grated coconut we've set aside, rotate the mold so that coconut sticks to all this butter, set aside.
When the milk is hot enough, transfer it to the bowl with the tapioca mixture, mix well until combinedd, set aside and let it rest for 20 minutes.
After this indicated time, transfer all the tapioca mixture to the greased mold, spreading it very well.
Cover the mold with plastic wrap and take it to the fridge, let it chill for 5 hours.
To unmold, run a knife along the sides.
Garnish with coconut flakes, grated coconut and cinnamon powder, but that's totally to taste.
Serve.