Beat butter and sugar together in a bowl using an electric mixer until creamy and smooth. Beat eggs, 1 at a time, into creamed butter mixture, beating until 1 egg is fully incorporated before adding the next; add vanilla extract and mix well. Stir white chocolate chips, cranberries, and coconut into creamed butter mixture.
Mix flour, baking powder, and salt together in a separate bowl; mix into the butter mixture until dough is thoroughly combined. Spoon dough in heaping spoonfuls onto a baking sheet, leaving 2 inches between each.
Bake in the preheated oven until cookies are slightly golden and center is partially soft, 10 to 13 minutes. Cool cookies on the baking sheet until soft and chewy.