Mix graham cracker crumbs with melted butter and sugar until well combined. Press this mixture evenly into the bottom of a 9-inch pie dish. Chill in the refrigerator for at least 30 minutes to set, allowing the crust to become slightly firm and buttery.

In a mixing bowl, beat softened cream cheese until smooth. Incorporate sweetened condensed milk, lemon juice, and vanilla extract, blending well. Fold in crushed pineapple and shredded coconut for added texture and flavor. Cook the egg yolks with milk and cornstarch over medium heat until thickened, then cool slightly before folding into the mixture. Pour the filling into the crust, smoothing out the top.

Cover the pie with plastic wrap and refrigerate for at least 4 hours or until the filling is firm and chilled. This step is essential to achieve the silky, luscious texture that makes this pie so indulgent.

Before serving, spread a generous layer of Cool Whip over the filling. Decorate with maraschino cherries and toasted coconut if desired. Keep refrigerated until ready to serve for an even more refreshing, chilled experience.