In a food processor or blender, process coconut until finely chopped; set aside. In a mixing bowl, beat almond paste until crumbled. Gradually add flour, sugar and coconut; mix well. Add eggs, one at a time; beat until smooth. Stir in nuts. Place dough in a pastry bag with a large star tip; pipe onto baking sheets covered with parchment paper or foil. Top with cherries. Bake at 180ºC or 15-20 minutes or until golden brown. Cool 5 minutes before removing to wire racks.