Line 2 baking sheets with foil, and set wire racks inside each. Spray racks with nonstick cooking spray.
Cut the bacon strips in half crosswise. Tightly wrap a strip of bacon around each piece of pineapple and transfer to prepared racks seam-side down. Continue with remaining bacon and pineapple. Place in refrigerator for 20 minutes to chill.
Preheat grill for cooking over indirect heat or an oven to 450 degrees F.
Whisk together the honey, mustard, hot sauce and liquid smoke in a medium bowl. Set aside.
Put the baking sheets on the grill over indirect heat or in the oven (in batches if necessary) and cook until bacon starts to get crispy, carefully flipping bites once midway through cooking, 30 minutes per batch. Brush each bite with the honey mustard and let cook until bacon is crispy and glaze has caramelized, an additional 10 minutes.