Preheat the oven to 350°F (175°C). Spread the shredded coconut evenly on a baking sheet and toast for about 5 minutes, or until lightly golden. Remove from the oven and set aside to cool.
In a medium bowl, combine the crushed graham crackers with enough melted butter to moisten the crumbs. Press the mixture firmly into the bottom and up the sides of a 9-inch pie pan to form the crust.
In a large mixing bowl, beat the softened cream cheese and cream of coconut together until smooth and fluffy. Mix in the rum-flavored extract.
Gently fold in the whipped topping, drained crushed pineapple, chopped cherries, and pecans until fully incorporated.
Spoon the filling evenly into the prepared crust, smoothing the top. Sprinkle the toasted coconut over the pie for garnish.
Refrigerate for several hours, or until fully set. Slice and serve chilled.
Enjoy!