First start on your sauce. Combine preserves, cherries and sugar in saucepan; simmer on low heat. Add sour cream after about 5 minutes. Continue to simmer for a total of about 10 minutes, stirring often. Turn off heat and let stand. Sauce will thicken upon standing.
Lightly toast coconut flakes in a pan on low to low-medium heat; set aside.
Build sandwich: bread, swiss, ham, bread (I don't like thick monte cristos so I just like a slice of each!) Set aside.
Heat up olive oil in pan. Meanwhile, beat eggs with brown sugar, and then mix in the coconut. Use a bowl big enough to dip the sandwich in!
Dip sandwich in egg mixture, using your fingers to coat sandwich heavily. (The eggs become thick with the sugar and coconut, so you will have to use your fingers to spread it out on the sandwich).
Toast sandwich in pan, about a total of 4-5 minutes on each side, flipping every once in a while to make sure the egg doesn't burn.