Sour Pineapple Tiki Cocktail

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2 cups fresh grapefruit juice

2 tablespoons maraschino cherry juice, plus maraschino cherries, for garnish, optional

1 pineapple (3 1/2 pounds), peeled, cored and cut into large chunks, plus pineapple wedges, for garnish, optional

1 tablespoon li hing powder, optional

24 ounces seltzer 

16 ounces dark rum, optional