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Preheat oven to 350°F. If needed, wrap a 10-inch springform pan in heavy foil paper to prevent leaking or use a 10-inch skillet or baking pan.
Drain the pineapple slices and cherries. Place the pineapple and cherries on paper towels to absorb excess moisture.
In a heavy saucepan, melt the butter. Or place the butter in a microwave-safe bowl and microwave it for about 30-60 seconds until melted.
Pour the melted butter into the cake pan, followed by the brown sugar. Spread it evenly. Then arrange the pineapple slices with one in the center, 5 others around it, and put the cherries in between the pineapple rings. You will need around 10 whole pineapple rings as the rest of the pineapple rings are split in half. Place the half slices against the sides, facing down if desired. Set aside.
In a large mixing bowl, cream the butter and sugar. Add in the sour cream and mix until combined. Next, add in the eggs, sifted flour, nutmeg, baking soda, baking powder, and salt. Mix until combined.
Then pour in the vanilla extract, and spiced rum. Mix everything until fully incorporated.
Scoop the batter into the assembled cake pan, and spread the batter evenly. Bake the cake in a preheated oven until a tester inserted into the center comes out clean, or for about 45–50 minutes.
Transfer to a wire rack. Let the cake cool in a pan for 10 minutes. Then run a sharp knife around the sides of the pan to loosen the cake. Tap the bottom of the pan and flip the cake onto a large plate or just open the sides if using a springform pan.