In a heavy-bottomed saucepan, combine sugar, butter, and evaporated milk. Cook over medium heat, stirring constantly, until butter is melted and sugar is dissolved.
Bring the mixture to a boil, then reduce heat to medium-low and continue to boil, stirring constantly, for 5 minutes.
Remove from heat and stir in vanilla extract, sweetened shredded coconut, and chopped pecans. Mix well until everything is evenly coated.
Drop spoonfuls of the mixture onto wax paper or parchment paper lined baking sheets. Work quickly as the mixture will start to set.
Let the pralines cool completely at room temperature until firm, about 1-2 hours.
Store in an airtight container at room temperature.
Notes
These pralines are best enjoyed fresh. For a smoother texture, ensure you stir constantly while cooking.