Combine the gelatin packet with the 1/4 cup of water and stir to combine.
Set aside to "bloom" a few minutes.
In a medium sauce pan, add 1/3 cup of the sugar, flour, salt, and milk and whisking to combine. Heat the mixture over medium heat, bring it to a boil and cook it for one minute.
Add in the gelatin mixture and whisk to combine then remove from heat.
Whisk in the vanilla and almond extracts.
Transfer the sauce pan from the stove to a bowl with ice to cool the mixture quickly, whisking to help speed up the process.
Beat the 1/2 cup of heavy cream on high until you reach stiff peaks and set aside.
Beat egg whites with cream of tartar and the remaining 1/3 cup of sugar until you reach stiff peaks and set aside.
Transfer the filling to a large mixing bowl, and whip just to make the mixture creamy.
Gently fold in the whipped cream, the whipped egg whites, and 3/4 cup of the shredded coconut with a rubber spatula until combined.
Transfer the filling into the baked and cooled pie shell, spreading the top into an even layer with the rubber spatula.
Whip the two cups of heavy cream to stiff peaks and using a large pastry bag with a large star tip, make a decorative top over the filling and then sprinkle with the remaining 1/4 cup shredded coconut over the top.
Top with cherries and serve!