Combine the crushed vanilla wafers and melted margarine. Pat into the bottom of one 9x13 inch pan.
Beat the cream cheese and confectioners' sugar together until light and fluffy. Spread over the top of the vanilla wafer crust. Spoon crushed pineapple over the cream cheese layer. Then layer sliced bananas over the pineapple. Cover with the non-dairy whipped topping and sprinkle top with chopped walnuts and maraschino cherries.