In a mixing bowl, mash the ripe bananas until smooth. Add eggs, milk, shredded coconut, baking powder, flour, and brown sugar; mix until just combined.

Heat oil in a frying pan over medium heat.

Drop spoonfuls of batter into hot oil and fry until golden brown on both sides. Avoid overcrowding the pan.

For the caramel sauce, melt butter in a saucepan over medium heat; stir in brown sugar until melted. Add light cream and whisk until thickened.

Drizzle warm caramel sauce over fritters before serving.