Prepare the caramel. Place the butter and erythritol in a pan and set over medium heat. Cook for 4-5 minutes until it browns. Whisk in the cream and vanilla. Cook over low heat for another 10 minutes or until thick.
Whisk together the eggs, almond milk, vanilla, and erythritol in a bowl.
Stir in the coconut flour and baking powder.
Lightly coat a waffle iron with cooking spray.
Ladle batter into the iron and cook for about 5-7 minutes.