Preheat oven to 325°F and line baking sheet with parchment paper. Place shredded coconut evenly onto baking sheet and bake for about 10 minutes, until browned. Remove.
Place coconut, oats, graham crackers, cereal and marshmallow bits into large bowl.
In a medium saucepan melt butter and 1/4 cup of honey, stirring until melted. Remove and stir in brown sugar, peanut butter and vanilla. Pour mixture over oat mixture stirring to combine. Drizzle with additional honey and stir in chocolate chunks, without stirring too much.
Transfer to a 9x13 dish, pressing evenly. Refrigerate for one hour before cutting into bars. For best results, keep bars chilled until serving.