Heat oven to 350 degrees. Spread macadamia nuts and coconut over a cookie sheet; roast, stirring every 2 minutes, until golden brown, about 6 minutes. Set aside to cool.
Increase heat to 375 degrees. Whisk flour, baking soda and baking powder together in a medium bowl; set aside.
Cream the butter in a mixing bowl with a mixer on low speed, 30 seconds. Add the sugars and salt; increase the speed to medium. Beat the mixture until light and fluffy, 2-3 minutes. Reduce the speed; add the egg and egg yolk. Beat until combined. Beat in vanilla. Add dry ingredients; mix on low until combined. Stir in chips, nuts and coconut.
Scoop out about 3 tablespoons of dough per cookie, arranging 2 inches apart on greased cookie sheets. Bake cookies 1 tray at a time, rotating baking sheet halfway through baking, until cookies are golden brown and edges have begun to set but centers are still soft, 10-14 minutes per batch. Transfer sheet to wire rack to cool.