In a large mixing bowl, beat the softened butter, granulated sugar, and powdered sugar until light and fluffy, about 2 to 3 minutes.
Add the egg, vanilla extract, and almond extract. Beat until smooth and fully incorporated.
In a separate bowl, whisk together the flour, cornstarch, baking powder, baking soda, and salt.
Gradually add the dry ingredients to the wet ingredients, mixing on low speed just until combined.
Fold in the cherry baking chips.
Cover the dough and refrigerate for 30 minutes.
Preheat the oven to 350°F. Line two baking sheets with parchment paper.
Scoop 1 1/2 tablespoon portions of dough and roll into balls.
Roll the dough balls in pink sanding sugar if desired.
Place the cookies 2 inches apart on the prepared baking sheets and gently flatten the tops.
Bake for 10 to 12 minutes, or until the edges are set and lightly golden while the centers remain slightly soft.
Allow the cookies to cool on the baking sheet for 5 minutes before transferring to a wire rack to cool completely.