In a medium saucepan, combine cherries and lemon juice over medium heat. As the juices start to run, use a spatula or spoon to mash up cherries. Continue to cook, stirring often, until reduced by half, about 20 minutes.
Mix together flour, baking soda, and salt in a small bowl.
In a medium bowl, beat together egg, honey, almond butter, milk, and 1 tablespoon oil. Add in dry ingredients and whisk until combined.
Heat coconut oil in a large skillet over a low heat. Use a 1/3 measuring cup to scoop pancake batter onto skillet. Cook on one side until the edges look done and the batter starts to bubble. Flip and cook a few additional minutes. Repeat until all pancake batter is gone.
Top with cherry compote and eat while warm.