Reserve 24 wafers. Crush remaining wafers; mix with butter. Press onto bottom of 13x9-inch pan. Refrigerate while preparing filling.
Beat cream cheese and sugar with mixer until well blended. Whisk in 1 cup whipped topping. Carefully spread over crust. Stand reserved wafers around edges.
Beat pudding mixes and milk with whisk in medium bowl 2 min. Stir in 1 cup whipped topping and 3/4 cup coconut; spread over cream cheese layer. Top with remaining whipped topping and coconut. Refrigerate 5 hours.
How To Toast Coconut: Just spread coconut evenly in shallow pan. Bake at 350 degree oven for 7 to 10 min. or until lightly browned, stirring frequently. Or spread in mircowaveable pie plate. Microwave on HIGH 3 min. or until lightly browned, stirring every minute. Watch carefully as coconut can easily burn.