In a large mixing bowl, combine the softened butter, powdered sugar, sweetened condensed milk, and vanilla extract. Mix until well incorporated and smooth.

Gently fold in the shredded coconut, chopped pecans, and maraschino cherries until evenly distributed throughout the mixture. Cover the bowl and refrigerate the dough for about 30 minutes, or until firm enough to shape.

While the dough chills, line two baking sheets with parchment or wax paper and set them aside. Once firm, roll the chilled dough into 1-inch balls and arrange them evenly on the prepared baking sheets.

Refrigerate the formed balls for at least 2 hours, or ideally overnight, to ensure they are completely firm.

Melt half of the chocolate almond bark in a microwave-safe bowl, heating it in 30-second intervals. Stir between each interval until fully melted and smooth. Remove one baking sheet of candies from the refrigerator. Using a toothpick, fork, or dipping tool, dip each ball into the melted chocolate. Gently tap off any excess chocolate and place the coated candies back onto the lined baking sheet. Once all candies from the first tray are dipped, return the tray to the refrigerator to set.

Repeat the process with the second batch of candy, melting the remaining almond bark as needed.

After dipping all candies, melt the white candy melts and drizzle over the candies for a decorative finish.

Allow the chocolate coating and drizzle to fully set before serving. Store the candies in an airtight container and enjoy these decadent treats!