1 (8 oz.) pkg. cream cheese, softened
1/3 c. sugar
3 tbsp. rum or 1/2 tsp. rum extract
3 1/2 c. Cool Whip
1 (8 1/4 oz.) can crushed pineapple in syrup
2 2/3 c. Baker's angel coconut

Beat cream cheese with sugar and rum until smooth. Fold in 2 cups of Cool Whip and crushed pineapple with syrup and 2 cups of coconut. Spread in 8-inch layer pan lined with plastic wrap. Invert pan onto serving plate. Remove pan and plastic wrap. Spread with remaining 1 1/2 cups of Cool Whip and sprinkle with remaining 2/3 cup of coconut. Freeze until firm, about 2 hours. Cut into wedges, garnish with pineapple and cherries, if desired.