Line a 9x13-inch baking pan with a piece of parchment paper that is large enough to go up all sides of the pan.
Combine oats, rice cereal, coconut, almonds, and cherries in a large mixing bowl and set aside.
Combine honey, peanut butter, brown sugar, coconut oil, vanilla extract, and salt in a small saucepan. Heat over medium heat until brown sugar is melted; continue to simmer for 1 minute more. Pour heated mixture into the dry ingredients and stir to fully combine. Stir in chocolate chips.
Pour granola into the prepared baking pan and press firmly with a nonstick spatula or lightly oiled hands to tightly compact and distribute evenly throughout.
Refrigerate for 2 hours.
Remove from the refrigerator and slice into 20 equal portions. Tightly wrap individually in plastic wrap or serve immediately.