In a heavy bottomed pot or Dutch oven, melt the butter over medium heat and continue to cook until frothy and starting to brown just a little, add in the onions and garlic and sauté un the browning butter for 5 -6 minutes.
Add in the tomato paste and sauté another 3-4 minutes to caramelize the onions and paste. Add in the Pomi tomatoes and the basil and stir to combine. Add in the broth, red pepper flake ,half the salt and pepper, raise the heat to medium high and bring to a boil, lower the heat back down and simmer for 30-45 min until slightly reduced and thickened.
Remove from heat and let cool for 20 min.
Puree the soup in 2-3 batches in a blender. Return to the pan and heat on low until simmering again. Add in the remaining salt if needed and slowly add in the coconut milk. Stir well til combined.
Taste and adjust seasonings if needed. Serve hot, garnish with fresh basil