Cut twelve 2-1/2 inch squares of waxed paper; set aside.
Divide bean paste into 12 portions.
Shape each portion into a ball.
Mix sweet rice powder and 1 cup water in a large bowl to make a smooth dough.
Divide dough into 4 portions.
Use the palm of your hand to flatten each portion into a 5" x 4" rectangle 1/4-inch thick.
Place rectangles in 6 cups boiling water and cook over medium heat 5 minutes.
They will rise to the surface of the water and become almost transparent.
Remove with a large strainer and drain well.
Place cooked dough in a large bowl and beat vigorously with a wooden spoon 3 to 5 minutes until very sticky.
Wet your hands and divide beaten dough into 12 portions.
Shape each portion into a ball and flatten to a circle with the palm of your hand.
Place 1 ball of bean paste in the center of a circle and gather edges together to enclose filling.
Pinch edges to seal.
Roll between your palms to shape into a smooth ball.
Place each ball on a piece of waxed paper.
Repeat with remaining dough portions and filling.
Top each ball with a cherry piece and sprinkle with shredded coconut.