In a saucepan, bring 2 cups of water to a boil. Once boiling, add the dried hibiscus flowers and reduce the heat to a simmer. Let it simmer for about 10 minutes to extract the flavor and color.
Remove from heat and strain the hibiscus tea into a bowl or pitcher, discarding the flowers. Allow the tea to cool to room temperature.
In a blender, combine the cooled hibiscus tea, fresh pineapple chunks, banana, coconut milk, honey or agave syrup (if using), and vanilla extract.
Blend on high until smooth and creamy. If you prefer a colder smoothie, add a handful of ice cubes and blend again until desired consistency is reached.
Taste and adjust sweetness if necessary, adding more honey or agave syrup if desired.
Pour into glasses and serve immediately, garnished with a pineapple slice or a sprig of mint if desired.