In a large mixing bowl, beat the softened cream cheese with an electric mixer until smooth.
Gradually add the powdered sugar, mixing until well combined.
Fold in the whipped topping until the mixture is light and fluffy.
Gently stir in the crushed pineapple, mini marshmallows, shredded coconut, and chopped nuts (if using).
Add the vanilla extract and mix until everything is evenly combined.
Cover the bowl with plastic wrap and refrigerate for at least 2 hours to allow the flavors to meld.
Serve chilled, garnished with additional coconut or nuts if desired.