Preheat the oven to 325 degrees F (165 degrees C). Grease and flour a 10-inch tube pan.

Combine sugar, oil, and softened butter in a large mixing bowl; beat with an electric mixer until smooth and creamy. Mix in eggs, one at a time, then mix in vanilla. Gradually mix in flour, baking soda, and salt until well combined. Stir in apples, coconut, raisins, and walnuts. Pour batter into the prepared pan.

Bake in the preheated oven until a cake tester inserted in the center comes out clean, about 90 minutes. Remove from the oven and let cool from the pan for a few minutes. Run a table knife around the edges to loosen. Invert carefully onto a serving plate or cooling rack.

While the cake is cooling, make the glaze: Combine brown sugar, butter, and milk in a small saucepan; bring to a boil. Once boiling, stir for 1 minute to combine.