In a mixing bowl, combine the graham cracker crumbs and shredded coconut. Mix well.
In another bowl, beat together the softened cream cheese, key lime juice, powdered sugar, vanilla extract, and lime zest until smooth and creamy.
Gradually add the graham cracker and coconut mixture to the cream cheese mixture, stirring until fully combined.
Refrigerate the mixture for about 30 minutes to firm up.
Once chilled, scoop out small portions and roll them into balls, about 1 inch in diameter.
Melt the white chocolate chips in a microwave-safe bowl in 30-second intervals, stirring in between until smooth.
Dip each truffle into the melted white chocolate, allowing excess to drip off, then place on a parchment-lined baking sheet.
Refrigerate the truffles for at least 30 minutes to set the chocolate.