Prepare rice according to package directions. Add milk, coconut milk, sugar and salt to cooked rice. Simmer 25 minutes, stirring occasionally. Remove from heat and add 2 tablespoon rum.
In a small saucepan, combine cornstarch, brown sugar and pineapple with juice. Cook over medium heat until thickened, about 2 minutes. Remove from heat and stir in butter and remaining rum.
Serve pudding topped with pineapple sauce and garnished with coconut.