Preheat oven to 350°F (175°C). Line a baking sheet with parchment paper.
In a large bowl, cream together the butter, granulated sugar, and brown sugar until smooth.
Beat in the eggs one at a time, then stir in the vanilla.
Combine the flour, baking soda, baking powder, and salt; gradually stir into the creamed mixture.
Fold in the white chocolate chips and macadamia nuts.
Drop dough by rounded tablespoonfuls onto the prepared baking sheet.
Bake for 10-12 minutes, or until edges are lightly browned. Cool on baking sheets for a few minutes before transferring to wire racks to cool completely.