In a large mixing bowl using a rubber spatula, combine coconut, sweetened condensed milk, salt, and vanilla. Mix until everything comes together and becomes like a dough.
Using an ice cream scoop or a spoon, scoop out the coconut mixture and roll it in between your palms to form a cylindrical shape.
Place coconut cylinders on a parchment paper lined baking sheet or tray, and refrigerate for at least an hour. Alternatively, you can put them in the freezer for 30 minutes.
Melt the chocolate in a double boiler until it's smooth and shiny. You can add a tablespoon of butter or vegetable oil to make it a little thinner and shinier (optional).
Dip your coconut bars in chocolate with the help of a fork, making sure all the sides are completely coated with chocolate.
Sprinkle some coconut on top and place the pan in the fridge until your chocolate sets.
Homemade bounty bars can be stored in an airtight container at room temperature for up to 5 days. To store them longer, keep them in a closed container in the refrigerator for up to a month. Bounty bars can also be frozen for 2 months. These candy bars are best enjoyed chilled.
You will need desiccated coconut, which is a little different than unsweetened shredded coconut, for these bounty bars. Desiccated coconut is finer and dryer. You should be able to find it at your local grocery store, but you may need to check the health food aisle. In a pinch, you can substitute unsweetened shredded coconut but may need to cut back on the sweetened condensed milk as the moisture content is different.