Preheat oven to 325 degrees F (165 degrees C).

Spread oats and coconut flakes onto a rimmed baking sheet.

Bake in the preheated oven for 8 minutes; stir oats and coconut and rotate baking sheet. Continue baking until oats and coconut are toasted, about 8 more minutes.

Whisk honey, coconut oil, vanilla extract, and cinnamon together in a bowl until smooth. Add oat mixture to honey mixture and stir until evenly coated.

Line the baking sheet with a silicone liner or parchment paper. Spread oat mixture evenly onto baking sheet.

Bake in the oven until granola is toasted, 8 to 15 minutes. Stir granola and transfer liner and granola to a wire rack to cool completely.