Position knife blade in food processor bowl; add cranberries. Pulse until cranberries are chopped. Combine cranberries, marshmallows, and 3/4 cup sugar in a bowl, stirring gently. Cover and chill at least 2 hours.
Fold in apple and whipped topping. Spoon mixture into 6 (4-ounce) parfait glasses, filling 3/4 full. Beat cream cheese, cream of coconut, and powdered sugar at medium speed of an electric mixer until smooth. Top parfaits with cream cheese mixture. Sprinkle with granola.
Christmas with Southern Living 1995