In a large mixing bowl, beat the softened unsalted butter and cream cheese together until smooth and creamy, about 2-3 minutes.

Add in the vanilla extract and continue to mix for another minute until well combined.

Gradually add the sifted powdered sugar, one cup at a time, beating until smooth after each addition.

Fold in the shredded coconut until evenly distributed.

Transfer the mixture into a lined baking dish and refrigerate for 20-30 minutes until firm.

Remove from the refrigerator and roll spoonfuls of the mixture into balls.

In a shallow bowl, mix the ground cinnamon and light brown sugar, then roll each candy ball in the mixture.