01 - Preheat oven to 350°F (175°C). Grease a 9-inch (23 cm) round cake pan.
02 - Melt 4 tablespoons of unsalted butter and pour it evenly into the prepared cake pan. Sprinkle the light brown sugar uniformly over the melted butter.
03 - Artfully arrange the drained pineapple slices over the brown sugar layer. Place one maraschino cherry in the center of each pineapple ring. Evenly sprinkle the shredded sweetened coconut over the fruit.
04 - In a medium mixing bowl, whisk together the all-purpose flour, baking powder, and salt until thoroughly combined.
05 - In a large mixing bowl, beat the softened unsalted butter and granulated sugar using an electric mixer or whisk until the mixture is light and fluffy. Incorporate the large eggs one at a time, ensuring each is fully blended before adding the next. Stir in the vanilla extract.
06 - In a separate small container, combine the coconut milk and the reserved pineapple juice.
07 - Gradually add the dry ingredients to the wet mixture in three additions, alternating with the liquid mixture. Begin and end with the dry ingredients. Mix until just combined to prevent overdevelopment of gluten.
08 - Gently pour the cake batter evenly over the prepared pineapple topping in the cake pan. Smooth the surface of the batter with a spatula.
09 - Bake for 40 to 45 minutes, or until a wooden toothpick inserted into the center of the cake emerges clean.
10 - Allow the cake to cool in the pan for 10 minutes before carefully inverting it onto a serving plate. Let the cake cool completely before slicing and serving.