Combine 1 cup flour, sugar, undissolved yeast and salt in a large mixer bowl. Heat water, milk, and butter until very warm (120° to 130°F). Gradually add to flour mixture. Beat 2 minutes at medium speed of electric mixer, scraping bowl occasionally. Add eggs and 1/2 cup flour; beat 2 minutes at high speed. Stir in enough remaining flour to make a soft dough. Knead on lightly floured surface until smooth and elastic, about 8 to 10 minutes. Cover; let rest 10 minutes.
For Coconut Pecan Filling, combine brown sugar, coconut, pecans, butter and cinnamon in a medium bowl. Stir to blend.
Roll dough to 24 x 9-inch rectangle. Spread Coconut Pecan Filling evenly to within 1/2-inch of edges. Beginning at long end, roll up tightly; pinch seam to seal. With sharp knife, cut lengthwise through roll to separate into two long portions. Arrange both halves side by side, so that cup sides are on top. Twist both portions together, keeping cut sides up to show filling. Pinch ends together to form a ring. Place on greased baking sheet. Cover; let rise until doubled in size, about 1 hour.
Bake at 350°F for 25 to 30 minutes or until done. Remove from sheet; cool on wire rack. Drizzle with Vanilla Glaze.
For Vanilla Glaze, combine powdered sugar, milk and vanilla. Stir until smooth.