Line two cookie sheets with parchment paper.
Preheat the oven to 350°F.
Place the softened cream cheese in a mixing bowl.
Beat the cream cheese with a hand mixer until smooth and free of lumps.
Add 1/4 cup granulated sugar and the vanilla extract to the cream cheese.
Mix until the filling is smooth and evenly combined.
Unroll one pie crust at a time on a clean work surface.
Cut the dough into 2-inch circles, re-rolling the scraps as needed.
Arrange half of the pie crust circles on the prepared cookie sheets.
Spoon a small amount of the cream cheese filling into the center of each circle.
For easier portioning, transfer the filling to a zip-top bag, cut off one corner, and pipe a small amount onto each crust circle.
Lightly moisten the edge of each filled crust circle with water.
Place the remaining pie crust circles over the filled crust circles.
Press the edges of each hand pie together with the tines of a fork to seal.
Bake for 15 to 20 minutes, or until the hand pies begin to turn golden.
Remove the hand pies from the oven.
Allow them to cool slightly, until they can be handled safely while still warm.
Melt the unsalted butter in a microwave-safe dish.
In a separate bowl, combine the remaining 1/2 cup granulated sugar with the ground cinnamon.
Brush each warm hand pie with melted butter.
Place each buttered hand pie into the cinnamon sugar mixture.
Turn each pie several times until fully coated.
Transfer the coated hand pies to a wax paper-lined cookie sheet.
Allow the hand pies to cool before serving.