In a food processor, add the peanut butter, honey, vanilla powder, flaxseed meal, oats, cinnamon and chia seeds together. Paulse together until fully combined.
Add in chocolate chips (and coconut if being used) and pulse a few more times.
Roll into 10-12 balls (roll in more coconut if desired) and place them in an airtight container.
Store up to 1 week in the refrigerator, or in freezer for up to 2 months.