Add the butter, brown sugar, honey, and pineapple juice to a small saucepan set over medium heat. Bring it to a simmer, then remove it from the heat and set it aside.

Lay two large sheets of aluminum foil in the air fryer basket and set the ham in the middle, folding up the sides slightly.

Brush the ham with 1/3 of the glaze. Fold the foil over the ham to cover, then air fry at 320 degrees F for 20 minutes. 

Fold the foil back and brush another ⅓ of the glaze on the ham. 

Skewer each maraschino cherry on a toothpick. Hold a slice of pineapple on the top of the ham with one hand, and push the toothpick through the hole and into the ham. Cover the ham with the foil and air fry for another 20 minutes.

Fold the foil back, brush the ham with the remaining glaze, and air fry uncovered for an additional 5-8 minutes at 380 degrees F, until the top is browned and the ham reaches 145 degrees F internally. Allow it to rest for at least 10 minutes before serving with the glaze in the bottom of the foil.