Add all ingredients, except coconut flakes and honey, in a cocktail shaker with ice. Pour honey onto a plate. Lay out coconut on a plate. Dip the rims of chilled glasses into honey and roll in coconut. Shake and pour into chilled martini glasses to serve.
Note: For a non-alcoholic version, omit the vodka and the banana Schnapps and substitute the ice with 1 banana. Puree the mixture in a blender.