Stir together the nut butter and honey in a medium bowl. Set aside.
Place the oats in a food processor or blender and pulse until finely ground. Transfer to the nut butter mixture and stir until thoroughly combined.
Scoop 1 tablespoon of the mixture at a time with a small portion scoop or a spoon and roll into a ball or log. Transfer to a rimmed baking sheet.
Place the coconut in a separate bowl or plate and roll each ball in the coconut to completely cover.
To freeze the finished balls, return them to the rimmed baking sheet and freeze for 30 minutes. Transfer to a resealable plastic bag, label and freeze for up to 3 months. They're delicious to eat right out of the freezer.