To a blender, add cream of coconut, frozen pineapple juice concentrate, pomegranate juice, rum, and ice. Blend on the smoothie setting.
Pour into serving glasses. With a small serving spoon, drizzle just a bit of pomegranate juice on top of the Piña Colada for added color.
Garnish with maraschino cherries, fresh pineapple and shredded coconut (optional). Serve right away while it's ice cold.