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1
Preheat the oven to 325F.
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2
Spread the macadamia nuts in a single layer on a rimmed baking sheet.
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3
Toast until lightly golden and fragrant, about 10 minutes.
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4
Let cool, then slice 22 nuts in half.
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5
Finely grind the remaining nuts, and set aside.
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6
In a medium bowl, whisk together flour, baking powder, and salt; set aside.
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7
In the bowl of an electric mixer fitted with the paddle attachment, beat the butter, shortening, and sugar on medium speed until light and fluffy, 3 to 4 minutes, scraping down the sides of the bowl as needed.
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8
Beat in 2 eggs and the vanilla to combine.
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9
Add the flour mixture, ground macadamia nuts, and coconut; mix on low speed until just incorporated.
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10
Turn out the dough onto a clean work surface.
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11
Shape into an 11-inch log, 2 inches in diameter.
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12
Wrap in plastic, and refrigerate until firm, at least 2 hours or overnight.
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13
Preheat oven to 350F, with racks in the upper and lower thirds.
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14
Line two large baking sheets with parchment paper.
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15
Remove log from refrigerator.
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16
Using a sharp knife, cut into 1/3-inch-thick slices.
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17
Place slices about 1 1/2 inches apart on prepared baking sheets.
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18
In a small bowl, whisk together the remaining egg with 1 tablespoon water.
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19
Using a pastry brush, lightly brush the top of each cookie with egg wash. Sprinkle with coconut, and press a macadamia half into the center.
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20
Bake, rotating sheets halfway through, until the edges are golden and the coconut on top is lightly toasted, 14 to 16 minutes.
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21
Transfer to a wire rack to cool completely.
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22
Cookies can be kept in an airtight container at room temperature for up to 5 days.