Combine butter, almonds, and coconut in a skillet and brown slightly. Remove to paper towels.
Blend together cream cheese, sweetened condensed milk, and whipped topping.
Spread a layer of cream cheese mixture in each crust. Next, layer the coconut mixture over the cream cheese, and then drizzle with caramel topping in a swirl motion. Repeat all the layers on each pie, ending with caramel swirl on top. Keep refrigerated.