When the smell of hot buttery cinnamon starts to permeate your kitchen, you’ll be glad you decided to try this recipe and that you went the extra mile with dough made from scratch. Monkey bread is best served warm, fresh from the oven. Simply tear it apart with your hands and enjoy.
Lightly grease a 10-inch Bundt pan and a medium bowl with butter; set aside. Melt the remaining butter and let cool slightly. Mix the melted butter with the milk, water, sugar, and yeast; let sit for 5 minutes.
Mix flour and salt in a large bowl. Make a well in flour, and pour milk mixture into well. Using a wooden spoon, stir until dough comes together. Turn out onto a lightly floured surface and begin to knead. Continue kneading until dough is smooth, around 10 minutes. Transfer to buttered bowl; cover dough with vegetable oil. Let stand in plastic-wrapped bowl for 20 minutes.
Melt butter in a small bowl. In a separate small bowl, combine brown sugar and cinnamon.
Cut dough into ½ inch pieces; roll each into a ball. Working one at a time, dip dough balls into melted butter. Roll in brown sugar mixture; place into greased Bundt pan. Seams should stagger. Cover with a kitchen towel and let stand in a warm room until doubled in size, around 1 hour.
Preheat the oven to 350 degrees. Bake until the top is deep golden brown and the coating bubbles, around 30-35 minutes. Cool for 10 minutes before inverting onto serving plate. Serve warm.