01 - Preheat oven to 350°F. Line a 12-cup muffin tin with cupcake liners.
02 - In a medium bowl, whisk together flour, baking powder, and salt. Set aside.
03 - In a large bowl, cream butter and sugar until light and fluffy, about 2-3 minutes.
04 - Beat in eggs one at a time. Mix in coconut milk, pineapple juice, rum, and vanilla extract until combined.
05 - Gradually add dry ingredients, mixing just until incorporated. Fold in crushed pineapple and shredded coconut.
06 - Divide batter evenly among cupcake liners, filling each about 2/3 full.
07 - Bake for 18-20 minutes until a toothpick inserted into the center comes out clean. Cool in tin for 5 minutes, then transfer to wire rack to cool completely.
08 - Beat butter until creamy. Gradually add powdered sugar, then coconut milk, vanilla, and salt. Beat until light and fluffy.
09 - Frost cooled cupcakes generously. Garnish with toasted coconut, cherry, and pineapple wedge if desired.