Add macadamia nuts to a large non-stick pan and place over medium heat. Stir constantly until lightly browned, 1-2 minutes.
Add coconut and brown sugar and stir constantly until coconut is lightly browned, 1-2 minutes.
Immediately, remove nuts to a plate.
Wipe pan clean and reserve.
Make the Pancake Batter
In a mixing bowl, combine pancake mix and 1¼ cups water. Stir together until batter falls off spoon in thin ribbons.
If necessary, add additional water 1 Tbsp. at a time to adjust the consistency.
Make the Pancakes
Drain pineapple rings.
Return pan used toast nuts to medium heat. Working in batches, coat with cooking spray and add two heaping ¼ cups pancake batter to hot pan. Cook until bubbles appear on the surface and bottom is golden brown, 1-2 minutes.
Place a pineapple ring and cherry on top of each pancake.
Flip, and cook until golden brown and fluffy, 1-2 minutes.
Remove to prepared baking sheet. Repeat twice to make six pancakes total, respraying with cooking spray. You will have about ¼ pancake batter left over.
Crisp the Bacon
Place bacon on baking sheet in a single layer and place in hot oven.
Roast until crispy and to your liking, 10-15 minutes.
Remove from oven and place bacon on paper towel-lined plate.
Finish the Pancakes
Bake in hot oven until hot and fully cooked through, 3-5 minutes.
Plate dish as pictured on front of card. Bon appétit!