In a saucepan over medium heat, combine all ingredients. Let cook for 4-5 minutes, or until thickened to desired consistency. (Keep in mind the sauce will continue to thicken as it cools — if it thickens too much, thin with a little water or more pineapple juice).
Taste, and adjust the level of heat if necessary. Let cool, then store in an airtight jar in the fridge for up to a couple of weeks.