Using an electric mixer (stand or handheld), cream together butter, sugar, extracts and salt until smooth, about 3 min. Scrape down sides of bowl, add egg and mix well. Scrape down sides of bowl again, slowly add flour, coconut, cranberries and pistachios along with the dry ingredients. Divide dough in half and, using a piece of parchment paper, roll dough into logs about 1 1/2-in. (4 cm) thick and 16-in. (40 cm) long. Roll each log in 2 tbsp (30 mL) of the remaining coconut, lightly coating outside of dough. Wrap with plastic wrap and refrigerate until firm, about 30 min.
Preheat oven to 350°F (180°C). Use parchment paper to line baking sheet. Unwrap dough and slice into 1/2-in. (1 cm) thick rounds and place on prepared baking sheet, spaced about 1 in. (2.5 cm) apart. Bake on middle rack of oven until firm, but not golden, about 12 min. Remove from oven, transfer cookies to a cooling rack to cool completely.