In a large bowl, combine the sweetened condensed milk, drained crushed pineapple, lemon juice, and vanilla extract. Stir until well mixed.
Gently fold the whipped topping into the mixture until fully combined. Be careful not to overmix to keep the filling light and fluffy.
Stir in the shredded coconut and chopped pecans, ensuring they are evenly distributed throughout the filling.
Pour the mixture into the prepared graham cracker crust, spreading it evenly. Smooth the top with a spatula for a clean finish.
Refrigerate the pie for at least 4 hours, or until fully set. Garnish with maraschino cherries before serving for a decorative touch. Enjoy this creamy delight!