Preheat the oven to 350 degrees. Line a cupcake tin with 12 cupcake liners.

In a medium bowl combine the flour, baking powder, and salt. Set aside.

In a larger bowl cream the butter, granulated sugar, and brown sugar. Add in the eggs one at a time, beating well after each addition.

In a small bowl combine the rum, cream of coconut, and Blue Curacao.

Add half of the flour mixture to the sugar mixture and mix well. Stir in half the rum mixture. Add in half of the remaining flour mixture, then the remaining rum. Finish by adding in the rest of the flour. Mix well.

Fold in the coconut and pineapple. Spoon the batter into the prepared cupcake tin filling each cupcake liner 3/4 of the way full.

Bake for 20 minutes or until a toothpick inserted into the center comes out clean. Remove from the oven and cool on a wire rack.

Meanwhile use a mixer to beat the butter for the frosting. Add in half the powdered sugar.

Add the rum, Blue Curacao, and pineapple juice and beat on low speed. Add in the remaining powered sugar and beat on medium high until the icing is smooth and creamy. Add blue food coloring if desired and stir.

Pipe the frosting onto the cupcakes. Using the pick end of the umbrella stab the pineapple slice and slide it into the cupcake. Place the cherry in front of the pineapple slice and serve.