Preheat your oven to 350°F (175°C). Grease and flour three 9-inch round cake pans to ensure the cakes come out beautifully.

In a mixing bowl, cream together the softened butter and granulated sugar until pale and fluffy. Add the eggs one at a time, mixing well after each addition, along with the vanilla extract.

In another bowl, whisk together the flour, cocoa powder, baking soda, baking powder, and salt. Gradually add the dry mixture to the butter mixture, alternating with the milk, beginning and ending with the dry ingredients. Mix until just combined.

Divide the batter evenly among the three prepared pans. Bake in the preheated oven for 25-30 minutes, or until a toothpick inserted in the center comes out clean.

While the cakes cool, prepare the frosting. In a saucepan, combine the sugar, evaporated milk, butter, and beaten egg yolks. Cook over medium heat until the mixture thickens (about 12-15 minutes), stirring constantly. Remove from heat and stir in the vanilla, coconut, and pecans. Let it cool.

Once the cakes have cooled completely, place one layer on a serving platter. Spread a generous amount of frosting on top. Repeat with the second layer and top with the final layer. Frost the top and sides of the cake with any remaining frosting.

Slice and serve this decadent delight at room temperature.