Use a vegetable peeler to remove 2 long strips of lemon peel, being careful not to take any of the white pith, which can be bitter. Juice the lemons; you should have 1 1/4 cups of juice.
Put the lemon peel, sugar, 1 cup of the lemon juice and 1/2 cup water in a small saucepan. Bring to a simmer over medium-high heat and cook, stirring, until the sugar has dissolved. Remove from heat and let cool. Discard the lemon peel.
Put the orange and lime slices in a large pitcher (or a clean stock pot if you are making an extra-large batch for family and friends). Using a wooden spoon or muddler, lightly bruise the citrus to release some of the juices and essential oils from the skins.
Stir in the orange juice, coconut water, dark and light rum, grenadine, pineapple juice, the remaining 1/4 cup lemon juice and 1 cup of the lemon syrup. (The remaining syrup can be refrigerated in a covered container for up to 1 week.)
Thread an orange slice, a lime slice and a maraschino cherry onto each of 8 small skewers. Fill 8 glasses with ice. Pour the hurricanes over the ice and rest a fruit skewer on each glass. Serve with tall bendy straws.