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Preheat oven to 350°F/171°C. Grease two 12-hole mini muffin pans.
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Make the sauce, in a microwave safe bowl, mix together brown sugar and butter.
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Microwave until butter melts. Stir to combine. Add in the rum and vanilla extract.
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Add a teaspoon of the mixture into the muffin pan. Then place a slice of banana on top and sprinkle with chopped cashews. Set aside.
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In a bowl, mix together oil, water, mashed bananas, and egg. Stir in banana cake mix until well combined.
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Drop cake batter into prepared muffin tins.
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Bake for 10-15 minutes or until edges are golden brown. Remove from muffin tins. Serve upside down.