In a large bowl, stir together 1 1/2 cups graham cracker crumbs, 2 tablespoons granulated sugar, and 5 tablespoons butter until the mixture resembles wet sand.
Press the mixture into the bottom and up the sides of a 9-inch pie plate. Chill in the fridge while you prepare the pie filling.
Filling
In a large bowl, mix together 14 ounces sweetened condensed milk and 1/3 cup lemon juice. The mixture should thicken slightly.
Gently fold in 8 ounces Cool Whip, then fold in 1 cup canned crushed pineapple, 1 cup chopped pecans, and 1 cups sweetened shredded coconut with a rubber spatula.
Spread the filling into the prepared pie crust, then chill in the refrigerator for at least 4 hours.
In a medium skillet over medium heat, toast ¼ cup chopped pecans and ¼ cups sweetened shredded coconut until lightly golden, if desired, then allow to cool completely before sprinkling over the pie.
Top with whipped cream and maraschino cherries immediately before serving.
Notes
Do not skip the lemon juice. It helps the filling thicken.
Drain the pineapple very well so the pie sets properly.
This pie can be made 1 day ahead. Add whipped cream, cherries, toasted coconut, and pecans just before serving.
Rinse and dry maraschino cherries before garnishing to keep the juices from dripping onto the whipped cream.