Place the macadamias in a bowl and cover with the water. Set aside for 6 hours.
Drain and rinse well and place into a food processor. Add the lemon juice, salt and pepper and blend to combine. Add the extra water and process until smooth, scraping down the sides in between processing.
Wrap the macadamia cheese in muslin and place into a colander over a bowl large enough to catch any excess liquid. Place in the fridge overnight. Store in an airtight container for up to 1 week.