Prepare the Oven and Crust: Preheat your oven to 350°F (177°C). Begin by finely processing the graham crackers and macadamia nuts together in a food processor until you achieve a coarse crumb mixture. It’s okay to have some slightly larger nut pieces for added texture. Transfer this mixture to a medium bowl, then stir in the granulated sugar. Slowly pour in the melted butter and combine everything thoroughly, ensuring the crumbs hold together when pressed but remain sandy in texture.
Form and Pre-Bake the Crust: Press the crumb mixture evenly into the bottom and up the sides of an ungreased 9-inch pie pan. Use your hands or the bottom of a flat measuring cup to gently pack and smooth the crust, making sure it’s firm but not overly compressed. Pay special attention to rounding the edge where the bottom meets the side to help prevent crumbling later. Place the crust in the oven and bake for 8 minutes. Once done, remove it but keep the oven on.
Mix the Filling: In a large bowl, whisk together the sweetened condensed milk, freshly squeezed key lime juice, and egg yolks until the mixture is smooth and slightly thickened. Add the key lime zest and stir gently to evenly distribute.
Bake the Pie: Pour the filling into the warm crust, spreading it out evenly. Bake for 18 to 20 minutes, or until the center of the pie is just a little jiggly but mostly set. Avoid overbaking to preserve the creamy texture.
Cool and Chill: Remove the pie from the oven and let it cool completely on a wire rack. Once cooled, cover the pie and refrigerate for at least one hour (up to three days) before slicing and serving. This chilling step is essential to let the filling firm up and flavors meld.
Garnish and Serve: Before serving, decorate the pie with your choice of lime zest, lime wedges, whole macadamia nuts, and a dollop of whipped cream or meringue topping for an extra touch of elegance.