Heat the condensed milk in an iron pot over medium heat.
Simmer stirring until it thickens (like yogurt) and turns a light caramel color.
Mix in the coconut flakes and remove from the heat.
Allow the mixture to cool to room temperature on a previously-oiled surface.
Once the mixture is cool enough to handle, cover your hands with a bit of oil. Place a tablespoon of the mixture in the palm of your hands and form balls with it.
Insert the candy sticks into the balls.
Making the hard caramel cover
Mix sugar, flavoring, coloring, water, and syrup in a saucepan and boil over medium heat. Insert a food thermometer at the beginning and remove saucepan from the fire when it reaches 265 °F [130°C].
Cover the balls in the caramel.
Shake off the excess and put them on a a silpat or oiled surface (like a cookie tray).
If the cover is too thin you can do a second pass starting with the first lollipop.
If the caramel starts to harden before you finish return to the fire until it melts again. Be careful not to go too far or it will burn.
Let it cool to room temperature before eating.
If you can find them in your local store buy a real coconut instead, grate and dry by spreading it on a cooking tray and baking at the minimum heat your oven will allow, making sure they do not change color.