01 - Preheat oven to 350°F and grease a 9x13-inch baking pan.
02 - In a large bowl, combine yellow cake mix, eggs, crushed pineapple with juice, vegetable oil, and water. Mix until smooth and well combined.
03 - Pour batter into prepared pan. Bake for 28-32 minutes or until a toothpick inserted in the center comes out clean.
04 - Let cake cool for 10 minutes. Using the handle of a wooden spoon, poke holes all over the cake, spacing about 1 inch apart.
05 - Whisk together sweetened condensed milk and coconut milk until well combined. Slowly pour this mixture evenly over the warm cake, allowing it to soak into the holes.
06 - In a separate bowl, whisk together vanilla pudding mix, cold milk, and pineapple juice until thickened, about 2 minutes. Spread pudding evenly over the cake.
07 - Cover and refrigerate for at least 1 hour, or until fully chilled and set.
08 - Once chilled, spread whipped topping evenly over the entire cake surface.
09 - Sprinkle toasted coconut over the top. Garnish with fresh pineapple chunks and maraschino cherries if desired. Slice and serve chilled.