Refrigerate a small mixing bowl (for whipping cream later). Line a plate with a paper towel. Arrange bacon on prepared baking sheet and cook 10-12 minutes, or until crispy. Transfer bacon to towel-lined plate and let cool slightly.

Combine coconut milk, liquid egg, and 2 Tbsp. brown sugar (reserve remaining for caramel sauce) in a large mixing bowl and set aside.

Place a medium non-stick pan over high heat. Add remaining brown sugar and 3 Tbsp. water. Dissolve sugar, then add pineapple and vanilla extract. If pineapple has defrosted, add thawed juices as well. Bring to a boil and boil 4-5 minutes, or until liquid thickens to a light syrup. Add half the cream (refrigerate remaining cream), return to a boil, and boil 2-4 minutes, or until thick and caramel-y. Remove from burner, season with a small pinch of salt, and set aside.

Place a large non-stick pan over medium-high heat and coat generously with cooking spray. Dip bread very briefly in coconut-egg mixture (soaking bread too long will cause mushy bread), shake gently to remove excess, and add to pan in a single layer. You'll need to do a few batches. Cook 3 minutes per side, or until browned. Place on second prepared baking sheet and repeat with remaining slices. Place baking sheet in oven 5 minutes to heat French toast.

Remove mixing bowl from refrigerator and add remaining heavy cream. Whisk 2-5 minutes, or until stiff peaks form. Alternatively, use a hand mixer to whip cream. Pineapple caramel sauce may have thickened while cooling. Just before serving, reheat over low heat 2 minutes to return to pourable consistency. Cut French toast slices in half diagonally.

Shingle French toast on a plate and drizzle with pineapple caramel sauce. Garnish with whipped cream and maraschino cherries. Serve bacon on side.