Preheat oven to 350°F (175°C).
In a medium bowl, mix flour, softened butter, and chopped pecans until crumbly. Press into a 9x13 inch baking dish.
Bake for 15–18 minutes, or until lightly golden. Let the crust cool completely.
In another bowl, beat cream cheese and powdered sugar until smooth. Fold in half of the whipped topping.
Spread the cream cheese mixture over the cooled crust.
In a separate bowl, whisk together pudding mix and cold milk until thickened (about 2 minutes).
Pour pudding over cream cheese layer. Spread evenly.
Top with the remaining whipped topping.
Sprinkle with toasted coconut.
Chill in the refrigerator for at least 2 hours before serving.