Add all the ingredients to a bowl and knead with your hands until a smooth dough starts to form. Wrap the dough in plastic wrap and refrigerate for 1 hour.
After you've taken the dough out of the fridge, divide it into 2 parts, roll out one half using a rolling pin, and then transfer it to a baking sheet lined with parchment paper. The rolled-out dough should be about 12 x 12 inches.
Preheat the oven to 350°F and get started on the cream cheese filling. Add the cream cheese, eggs, and sugar to a bowl and use a hand mixer to combine everything. Spread the cream cheese filling evenly over the dough all the way to the edges and then place the cherries on top in an even pattern.
Take the other half of dough and roll it out – this one should be slightly larger than the first one. Place it on top of the cherries and fold the edges under so the filling is no longer visible.
Brush the egg wash over the dough, transfer the pan to the oven, and bake for 40 minutes.
While the cake cools down, melt the soft caramels and butter in a saucepan over low heat, stirring regularly.
Pour the caramel sauce on a baking sheet lined with parchment paper and spread it evenly over about 9 x 15 inches. Refrigerate the caramel for about 10 minutes.
Once the caramel has set, cut it into about ¾-inch thick strips.
Brush honey over the cake and place the caramel strips diagonally across the cake, making sure to leave a small gap between each strip. Decorate the gaps between the caramel strips with shredded coconut and chopped walnuts.