Preheat oven to 350 degrees F. Line 9x9 square pan with parchment paper or a lightly greased sheet of foil with a slight overhang. Set aside
In a mixing bowl, beat the cake mix, softened butter, egg and vanilla extract until a soft dough forms. Press the dough into prepared pan. The dough will be sticky so it will help to use an angled spatula to spread evenly and flat. Sprinkle the top with 1/2 cup of shredded coconut and chocolate chips.
Bake for 27-30 minutes or until the top is completely baked. Allow to cool completely before frosting and cutting.
Meanwhile, mix together the remaining 2 cups of coconut, almond slivers, and sweetened condensed milk. Spread evenly over cooled bars.
Top with almond slices, toasted coconut, and chocolate chips. Place in the fridge to allow coconut layer to set for at least 30 minutes. Lift cake out of pan using the overhang and slice into bars. Garnish with sprinkles if desired. Makes around 16 squares.