1. Heat oven to 350° F. Lightly grease cookie sheet or line with parchment paper.
2. Beat butter and sugar in large bowl until fluffy. Beat in flour and vanilla, beating until you have pea-sized crumbs. Stir in chips and macadamia nuts. With hands press mixture into ball; divide into two smaller equal balls.
3. Place one dough ball at each end of prepared cookie sheet; flatten each into circle about 1/2 inch thick. With knife cut each circle into 12 wedges. Do not separate wedges.
4. Bake 20 to 25 minutes or until edges are golden brown and center is set. Cool 10 minutes; recut wedges. Makes 24 wedges.