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Preheat the oven to 180C/Gas 4/fan oven 160C and line a large muffin tray with 9 muffin cases. Tip the butter and sugar into a large bowl and beat with an electric mixer until paler in colour, light and fluffy. Pour in the eggs and beat until the mixture is light and creamy. Use a wooden spoon to beat in the flour, milk, vanilla and coconut until you have a soft dropping consistency. Stir in the cherries.
Spoon the mixture into the muffin cases and bake for 20 minutes until risen and golden. Lift the muffins out of the tray and sit them on a wire rack to cool slightly.
To decorate, tip the jam into a small saucepan and gently warm, stirring, until melted and smooth. Generously brush the tops of the warm cakes with the jam, stick the quartered cherries on top and sprinkle with the toasted coconut. Serve on the day of making.