Preheat the oven to 350 degrees. Line two standard muffin pans with 18 cupcake liners, one with 12 the other with 6; set aside.
CUPCAKES: In a medium mixing bowl, whisk together the cake flour, baking powder, baking soda, and salt; set aside.
In a large mixing bowl, using an electric hand mixer beat the butter and coconut oil on medium-high speed until smooth about 1 minute. Add the sugar beat on high speed for 2-3 minutes or until pale. Add the egg whites, vanilla and coconut extracts, beat until well combined.
With mixing speed on low, alternate the dry ingredients with the sour cream, coconut milk and 1/2 cup of shredded coconut. Mix just until incorporated.
Using an ice cream scoop, fill each cupcake liner 3/4 full with batter. Top with toasted coconut gently pressing it into the batter.
Place pans in the oven and bake for 15-18 minutes, or until a wooden toothpick inserted in the center comes out clean. Remove from the oven, cool in the pans for 5 minutes before transferring to a wire rack to cool completely.
FROSTING: In a large mixing bowl, beat the cream cheese, butter, vanilla and salt until creamy about 1-2 minutes. With mixing speed on low gradually add the confectioners’ sugar. Add the pineapple and pineapple juice mix on the lowest speed possible for 1 minute, do not overbeat.
Fill a piping bag fitted with a (2A) circle tip with frosting. Pipe frosting over the cooled cupcakes, then top with additional toasted coconut, crushed pineapple, and maraschino cherries.
Store cupcakes covered in the refrigerator until ready to serve, especially if the weather is warm.
Decorate with umbrellas and straws just before serving.