Step 1: With an electric mixer, beat together sugar, butter, eggs, and vanilla until well blended scraping bowl often. Then beat on high speed for 5 minutes, scraping bowl occasionally. Mix together the flour and baking powder. In a separate bowl, combine the coconut milk and rum. Add liquids and flour alternately to batter, blending well after each addition. Gently stir in pineapple and coconut. Pour batter into a greased and floured 6 cup bundt pan.
Step 2: Bake in preheated 350 degree oven for 45 to 50 minutes until cake begins to pull from the sides of the pan and a wooden pick inserted comes out clean. Remove from the oven and while still in the pan, pour 1/4 cup rum over the cake and seal quickly with foil to prevent evaporation. Cool in pan on a rack for 20 minutes, then turn out, invert and let cool completely right side up.
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