Step 1: Preheat oven to 350 degrees F. Set oven rack to middle position.
Step 2: Line a 9-inch round cake pan with a circle of parchment paper and grease the sides and bottom with butter.
Step 3: Melt 5 tablespoons butter in a small sauce pan over medium high heat, cooking until it is lightly browned and has a nutty aroma; remove from the heat and carefully and slowly stir in the brown sugar and rum.
Step 4: Pour the caramel mixture into the cake pan spreading it to cover the bottom.
Step 5: Arrange the pineapple slices in a ring slightly overlapping around the inside of the pan, covering the entire surface.
Step 6: In a bowl sift together the flour with baking powder, salt, cinnamon and nutmeg.
Step 7: Using an electric mixer on medium speed beat together 3/4 cup butter and sugar until light and fluffy. Mix in the eggs one at a time reduce the mixer speed to low and add the flour alternating with the milk and mixing until the batter is smooth.
Step 8: Pour the batter into the cake pan over top of the pineapple slices.
Step 9: Bake (rotating the pan once during baking) until golden brown and toothpick inserted into the center of the cake comes out clean, about 40-45 minutes.
Step 10: Remove from the oven and allow to cool for 5-10 minutes.
Step 11: Run a knife around the edge of the pan to loosen the cake and carefully invert the cake onto a serving platter, remove the parchment paper circle.
Step 12: Let cool completely before serving.
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