1-First: preheat the oven to 350 degrees Fahrenheit and line a 12-cup muffin pan with cupcake liners to get ready for baking. In a bowl, whisk together 1 2/3 cups (236g) all-purpose flour, 1 1/2 teaspoons baking powder, 1/8 teaspoon baking soda, and 1/4 teaspoon salt; set aside. In a stand mixer or large bowl, beat 1/2 cup (113g) softened unsalted butter and 3/4 cup (156g) granulated sugar until pale and fluffy, then add 2 large eggs one at a time, mixing well after each.

2-Next: in a separate liquid measuring cup, combine 1/3 cup canned coconut milk, 1/3 cup pineapple juice, and 1/4 teaspoon coconut extract. Add one-third of the flour mixture to the butter-sugar mixture and mix on low just until nearly combined, then add half of the coconut milk mixture. Repeat the process with the remaining flour and milk mixtures, ending with the flour, and gently fold in 1 cup (176g) well-drained canned crushed pineapple to avoid over-mixing.

3-Step-by-Step Baking Instructions:

1. Divide the batter equally among the lined muffin cups and bake for 19 to 23 minutes, or until a toothpick inserted into the center comes out clean.
2. Cool the cupcakes in the pan for several minutes, then transfer to a wire rack to cool completely.
3. For the frosting, beat 1 cup (226g) softened butter until light and fluffy, add 2 tablespoons canned coconut milk, 3/4 teaspoon coconut extract, and 1 cup of the 3 1/2 cups (426g) powdered sugar; mix until combined, then add the remaining powdered sugar and whip until fluffy.
4. Frost the cooled cupcakes, sprinkle with 3/4 cup (60g) sweetened shredded coconut, and garnish with optional maraschino cherries and fresh pineapple wedges if desired.