In a bowl, using an electric mixer, beat mascarpone and 1 cup fruit filling until well combined and smooth.
Stir in remaining fruit filling, vanilla extract and coconut extract. Cover; refrigerate while making cannoli shells.
Place coconut flakes in a small bowl.
In a medium microwaveable bowl, microwave chocolate until melted, about 1 minute. Stir until completely smooth. Immediately (working quickly), dip both ends of a cannoli shell in the white chocolate, then in the coconut flakes. Repeat on all shells and then place on a rimmed baking sheet; refrigerate until chocolate is completely set.
Spoon cherry filling mixture into a piping bag; snip tip large enough for cherries to pass through. (Alternatively, use a large resealable bag; seal and snip off one corner.) Carefully, fill each cannoli shell completely with cherry filling.
Arrange cannolis on a decorative platter and dust with powdered sugar to serve.
Toast coconut on a skillet over medium heat, shaking pan occasionally, until lightly toasted.