Preheat your oven to 350°F (175°C).
In a large mixing bowl, combine the softened butter, brown sugar, and white sugar. Cream the mixture on medium speed until light and fluffy, about 2-3 minutes.
Add the egg and vanilla extract to the creamed mixture. Beat until well combined.
In a separate bowl, whisk together the all-purpose flour, baking soda, and salt. Gradually add to the wet mixture, mixing on low speed until just combined.
Gently fold in the white chocolate chips, chopped macadamia nuts, and dried cherries.
Line a baking sheet with parchment paper. Drop rounded balls of dough onto the prepared baking sheet, leaving space in between.
Bake in the preheated oven for 10-12 minutes, or until the edges are lightly golden.
Allow the cookies to cool on the baking sheet for about 5 minutes before transferring them to a cooling rack.