Preheat oven to 375 degrees. Line baking sheets with parchment paper.
In a medium bowl, combine flour, baking powder, baking soda and salt; set aside.
In a large bowl, beat butter, brown sugar, granulated sugar, vanilla and egg, with an electric mixer on medium speed until light and fluffy. Slowly add flour, beat until just combined (dough will be stiff). Stir in white chocolate chunks, coconut and chopped macadamia nuts.
Drop dough by rounded tablespoonfuls, about 2-inches apart, onto prepared baking sheets. Bake for 8-11 minutes or until edges begin to brown. Cool on baking sheets for 2 minutes; remove to wire racks to cool completely.
Cook's Note: You can substitute 1 (12 oz.) pkg. of white chocolate chips for chocolate chunks.