Preheat oven to 325°F (163°C). Grease and flour a 10-inch bundt pan.
In a large bowl, beat the butter and cream cheese until smooth.
Add sugar gradually and beat until light and fluffy.
Beat in the eggs, one at a time, mixing well after each addition.
Add vanilla and almond extracts and mix.
In a separate bowl, sift together the flour, baking powder, and salt.
Gradually add dry ingredients to the butter mixture, mixing until just combined.
Fold in the crushed pineapple.
Pour batter into prepared bundt pan and smooth the top.
Bake for 70–80 minutes, or until a toothpick inserted into the center comes out clean.
Cool in pan for 15 minutes, then turn out onto a wire rack to cool completely.