01 -
Preheat oven to 325°F (163°C). Spray a 10-inch bundt cake pan with cooking spray and set aside.
02 -
Add all cake ingredients to the bowl of a mixer and mix on medium speed for 2 minutes until smooth. Pour the batter into the prepared bundt pan.
03 -
Bake in the preheated oven for 1 hour or until golden brown. Use a toothpick to check for doneness. Let cool slightly, then invert onto a cake plate or platter.
04 -
Add sugar and water to a medium saucepan over medium-high heat. Stir until sugar dissolves. Boil until the syrup turns a deep amber color, swirling the pan occasionally.
05 -
Remove the saucepan from heat and stir in butter, followed by heavy cream. Once bubbling subsides, stir in dark rum until combined.
06 -
Pour caramel sauce over the cake. Optionally, poke holes in the cake to let the sauce seep inside. Garnish with toasted coconut or pecans, if preferred.