In the bowl of a food processor, process wafer cookies, toasted coconut and pecans until finely ground. Set aside. (You may have to do this batches.)
In a large bowl, sift together 1 cup powdered sugar, cocoa powder and salt.
Stir together both rums and honey.
Add vanilla wafer, coconut and pecan mixture. Mix well.
Chill in the refrigerator for 30 minutes.
In a small, shallow bowl, combine cocoa powder and powdered sugar for coating rum balls.
Whisk to combine and set aside.
Scoop out tablespoon portions, roll into balls and toss to coat in cocoa sugar mixture.
Place on parchment lined baking sheet, cover with plastic wrap and refrigerate for at least 1 hour before serving.