Preheat the oven to 350 degrees F (175 degrees C).

Pour melted butter into a 9x13-inch baking dish. Sprinkle brown sugar evenly over butter. Arrange pineapple rings in 2 rows in the baking dish.

Sprinkle nuts, 1/4 cup coconut, and chopped pineapple between the rows of pineapple rings. Place a cherry in each pineapple ring, then scatter remaining 4 cherries over coconut mixture. Set the baking dish aside.

Whisk together pineapple juice, coconut water, oil, and eggs in a large bowl. Stir in mashed banana, white cake mix, and remaining 1/4 cup coconut until well blended. Pour batter slowly into the prepared baking dish.

Bake in the preheated oven until a toothpick inserted into the center comes out clean, about 45 minutes. Allow cake to cool in the baking dish for 10 minutes, then run a paring knife around the edges.

Cover the baking dish with a large serving plate and invert cake onto the plate so pineapple slices face up.