Make the caramel first. Combine coconut milk and coconut sugar in a saucepan over medium-high heat. Bring to a boil and lower the heat, keeping the sauce at a light simmer. Simmer for 30 minutes, stirring every 5 minutes. Once the sauce has turned dark and thickened, remove from the heat and stir in butter. Set aside to cool down.
Preheat the oven to 180C and grease a donut pan. In a mixing bowl using a hand electric mixer beat oil and sugar together. Beat in eggs/flax-seed eggs. Add in vanilla bean paste, pumpkin puree and milk. Stir until combined. Add in flour and spices. Mix until just combined. Transfer the batter to a piping bag or a large and pipe into the prepared donut pan, filling 3/4’s through. Bake until the donuts spring back when gently touched for about 15 minutes. Transfer into a wire rack and cool to room temperature. Dip each donut into the caramel. Shake off some of the excess caramel. Return to the wire rack and sprinkle with sea salt. Enjoy!