Prep the pan and oven: Heat oven to 350°F (175°C). Lightly grease a 12-cup muffin tin with nonstick spray or butter.
Cut 6 pineapple rings in half to fit the cups better. Pat them dry with paper towels to reduce excess moisture.
Make the caramel base: Melt 1/2 cup unsalted butter in a small saucepan over low heat. Stir in 2/3 cup packed light brown sugar until glossy and combined.
Spoon about 1 tablespoon of this mixture into the bottom of each muffin cup.
Add fruit: Place a maraschino cherry in the center of each cup. Arrange a pineapple half-moon around the cherry. If your cups are roomy, tuck a small extra piece of pineapple to fill gaps, but don’t overpack.
Mix dry ingredients: In a medium bowl, whisk 1 1/2 cups all-purpose flour, 1 1/2 teaspoons baking powder, and 1/2 teaspoon kosher salt.
Cream butter and sugar: In a large bowl, beat 1/2 cup softened unsalted butter with 2/3 cup granulated sugar until light and fluffy, about 2 minutes.
This helps create lift and a soft crumb.
Add eggs and vanilla: Beat in 2 large eggs, one at a time, then 2 teaspoons vanilla extract. Scrape the bowl so everything mixes evenly.
Stir in wet ingredients: Add 1/3 cup sour cream and 1/4 cup pineapple juice. If you like an extra-moist cupcake, add 1 tablespoon neutral oil.
Mix just to combine.
Combine batter: Add the dry ingredients to the wet in two additions, mixing gently until no dry streaks remain. Do not overmix; a few small lumps are fine.
Fill the cups: Divide the batter evenly among the 12 cups, filling each about 3/4 full. The batter will sit over the fruit and caramel layer.
Bake: Place the pan on the center rack and bake 18–22 minutes.
The tops should be golden and spring back when touched. A toothpick should come out mostly clean, with a few moist crumbs.
Cool briefly and invert: Let the cupcakes rest in the pan for 5 minutes to settle. Run a thin knife around the edges.
Place a baking sheet or large tray over the muffin pan and carefully invert. Tap the bottom to release. Lift off the pan to reveal glossy, caramel-topped cupcakes.
Serve warm or cool: These taste fantastic slightly warm, when the caramel is still soft.
If serving later, let them cool completely on a rack so the topping sets.