Brush bottom and sides of a 5 x 8 baking dish with coconut oil or melted butter. Set aside.
Rinse glutinous rice a few times or until water runs almost clear. Drain well.
In a deep, thick-bottomed pot or rice cooker, combine rice and water. Tie a pandan leaf into a knot and add it to the rice.
Over medium heat, bring to a boil. Lower heat, cover, and cook until liquid is absorbed.
Allow to cool to touch and fluff with a fork to separate grains. Discard pandan leaf.
In a wide non-stick skillet over medium heat, combine 3 cups coconut milk, white sugar, and salt. Stir until sugar is dissolved and bring to a simmer. Lower heat and continue to cook until slightly reduced and thickened. Add rice, gently stirring to distribute evenly. Cook, stirring occasionally, for about 50 to 60 minutes or until the mixture is very thick and sticky, and pulls away from the sides of the pan.
Meanwhile, In a non-stick pan over medium heat, combine the remaining 2 cups coconut milk and brown sugar. Cook, stirring occasionally, until very thick yet spreadable.
Transfer the sticky rice into the prepared baking dish and pat down with a lightly greased spatula to even out.
Spoon coconut caramel topping over rice and spread across the surface to completely cover.
Bake in a 350 F oven for about 20 to 30 minutes or until topping is caramelized and bubbly.
Remove from oven and allow to cool completely before slicing.