Preheat your oven to 350°F (175°C) and prepare your baking sheets with parchment paper.

In a stand mixer, beat room temperature butter and granulated sugar together on medium for 3-5 minutes until light and fluffy.

Add the egg, vanilla extract, almond extract, and pink food coloring, mixing on low speed until smooth.

In a separate bowl, whisk together the flour, baking powder, and salt. Gradually pour this into the wet ingredients, mixing until just combined.

Fold in the chocolate chips and maraschino cherries carefully with a spatula.

Use a cookie scoop to portion the dough on your prepared baking sheets, spacing 2-3 inches apart.

Bake in the preheated oven for 12-13 minutes, until edges are golden and centers remain soft.

Let cookies cool on baking sheets for 5 minutes, then transfer to wire racks to cool completely.