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Preheat oven to 350°F. In a large mixing bowl, beat butter with an electric mixer on medium to high speed for 30 seconds. Add brown sugar, granulated sugar, cinnamon, baking soda and salt. Beat until combined, scraping sides of bowl occasionally. Beat in egg and vanilla until combined. Beat in flour just until combined. Stir in oats, coconut, chocolate, dried cherries and walnuts (dough may be a little crumbly).
Drop dough by rounded teaspoons 2 inches apart onto an ungreased cookie sheet. Bake about 10 minutes or just until edges are set. Cool on cookie sheet for 1 minute. Transfer to a wire rack; cool completely.