Millionaire Pie

How do you describe millionaire pie to someone who’s never had it before? It’s really like no other dessert. The pineapple and coconut give it tropical vibes but then there’s also crunchy pecans, maraschino cherries, and, of course, the fabulously creamy texture. This ice box pie is little bit like ambrosia salad and it has that same kind of retro flair.

Millionaire pie is definitely one of those recipes that fits right in at barbecues, family gatherings, and potluck dinners!

Millionaire pie is a Southern classic. You may know it as million dollar pie, billionaire’s pie, or Hawaiian pie. Whatever you call it, this dessert pie will make you feel like you hit the jackpot!

Reasons to Love Millionaire Pie

• Quick and easy. This icebox pie comes together in minutes and with minimal effort. It’s really just a matter of stirring together the filling and pouring it into the crust.
• Cool and creamy. Millionaire pie has a luscious yet airy texture, and the fact that it’s a chilled dessert makes it refreshingly cool on a hot day.
• Perfect for any occasion. Whether you’re hosting a barbecue, celebrating a special occasion, or simply craving something sweet and indulgent on a weeknight, millionaire pie is perfect.
• A no-bake dessert. We all need a few back pocket no-bake desserts for the summer! (Try these no-bake mini cheesecakes and no-bake peanut butter bars too.)

Ingredient Notes

• Graham Cracker Crust: I love to use my homemade graham cracker crust recipe but store-bought is fine too. You can use up to a 10-inch crust for millionaire pie.
• Maraschino Cherries: You’ll need the cherries and a tablespoon of juice from the jar. The juice gives the filling a pretty pink hue.
• Sweetened Flaked Coconut: Make sure you buy sweetened, not unsweetened!
• Crushed Pineapple: Drain the pineapple well. If you add too much liquid to the filling, it will be too soft to slice easily.
• Pecans: I like to toast the pecans first; toasting adds so much flavor to nuts and it’s easy to do. After you toast them, chop the pecans finely.
• Sweetened Condensed Milk: Often people get this canned milk confused with evaporated milk, which is unsweetened. They are not interchangeable; evaporated milk won’t work in this recipe.
• Lemon Juice: I recommend fresh-squeezed lemon juice, not bottled. The lemon juice balances the sweetness of the pie and helps thicken the filling.
• Cool Whip (frozen whipped topping): Cool Whip has stabilizers which will keep your pie from deflating when stored in the fridge so it’s a better choice than homemade whipped cream. Be sure to thaw the frozen whipped topping in your refrigerator overnight before making the pie. Extra whipped topping can be used to garnish the pie.

How to make Millionaire Pie

Prep the cherries. Reserve a tablespoon of juice from the jar of maraschino cherries, then drain the cherries. Chop one cup of cherries for the filling. I usually cut the cherries into quarters but you can cut them smaller, if you prefer. Reserve the remaining whole cherries for a garnish.

Make the filling. Stir together the chopped cherries, cherry juice, coconut, crushed pineapple, chopped pecans, sweetened condensed milk, and lemon juice in a large mixing bowl.

Add whipped topping. Gently fold 1½ cups of thawed Cool Whip into the filling. Don’t overstir the mixture. You don’t want to deflate the whipped cream.

Put the filling into the crust. Pour the filling into the prepared graham cracker crust and smooth the top.

Chill. Cover the pie and put it into the refrigerator to chill for at least 4 hours. I usually chill it overnight.

Garnish and serve. Top the millionaire pie with the rest of the Cool Whip and the reserved cherries before serving.

Recipe Tips

• Drain the pineapple well. Place the pineapple in a fine mesh strainer and press it down with a rubber spatula or large spoon to extract excess liquid.
• Dry the cherries for the garnish. I rinse and dry them so the color doesn’t bleed onto the topping.
• Try other toppings. Toasted coconut, additional chopped pecans, and pineapple tidbits all work well. If you use fresh fruit to garnish the pie, make sure it is well-drained and dry. 
• Don’t rush the chilling. For the best texture and flavor, allow the pie to chill for at least 4 hours but overnight is preferable. Be aware that even after chilling, the pie won’t cut into clean, crisp slices like a cheesecake because it has too much texture from the fruit and nuts.
• No substitutions. This millionaire pie recipe was carefully developed with these specific ingredients and ratios. If you switch up the ingredients (other than the suggestions listed above), it’s very likely that the filling won’t set up properly.

Storage Suggestions

Refrigerate: Cover and store millionaire pie in the refrigerator for 4 to 5 days. This icebox pie keeps surprisingly well. It retains its shape and doesn’t get soggy.

Freeze: The pie can be frozen in an airtight container or freezer bag for up to 3 months. If you freeze the pie, serve it frozen rather than thawing it. Let it thaw for 15 minutes or just until it’s soft enough to cut. Don’t let it thaw completely.