Preheat oven to 350°F (175°C). Line a baking sheet with parchment paper.
In a large mixing bowl, cream together the butter, granulated sugar, and brown sugar until light and fluffy.
Beat in the eggs one at a time, then stir in the vanilla extract.
In a separate bowl, whisk together the flour, baking soda, baking powder, and salt. Gradually add to the butter mixture, mixing until just combined.
Fold in the white chocolate chips and macadamia nuts.
Drop dough by rounded tablespoons onto the prepared baking sheet.
Bake for 10-12 minutes, or until edges are lightly browned. Cool on baking sheet for 5 minutes before transferring to a wire rack to cool completely.