Preheat oven to 350-degrees. Prepare a 9"x3" round cake pan by spraying with cooking oil around the bottom and sides.
In a saucepan, combine sugar and butter and heat over low medium heat until smooth and a light caramel color. Pour evenly into the bottom of the prepared pan. (if you like the cake really gooey and caramel-y you can double the butter/brown sugar mixture)
Pat pineapple dry and place slices evenly over the top of the caramel mixture. Pat cherries dry and place in the middle of each pineapple ring.
In a medium sized bowl, sift together flour, salt, and baking powder, set aside.
In a large mixing bowl combine sugars, melted butter, oil, eggs, egg yolks, and vanilla and mix well.
Add flour mixture and milk a little at a time, alternating between the two. Do not over mix.
Pour batter gently and evenly over the pineapple until the batter is evenly distributed throughout the pan.
Bake for 40 minutes on the middle rack of the oven. After 40 minutes check for doneness with a wooden skewer. Place the skewer through the middle of the cake, if it comes out clean it's done. If needed, bake for 5 minutes more at a time, checking for doneness until the cake is done.
When the cake is done, remove from the oven. Allow cake to rest for 10-15 minutes. Place a serving plate over the top of the pan.
Using hot pads if pan is still hot, carefully flip the cake out onto the plate while it is still quite warm.
Serve warm.