Heat the oven to 350 degrees. Grease the bottom of a regular loaf pan. I usually keep this simple and just grease the pan well, but you can also line it with parchment paper if you like lifting the loaf out cleanly.
In a large mixing bowl, mix the sugar and softened butter until they are well blended. You do not need to beat this forever. I just want the butter and sugar mixed together nicely before the eggs go in.
Add the mashed bananas, spiced rum, and water. Mix until everything comes together. If your bananas are very ripe and juicy, you may notice the batter looks a little loose. That is normal, but if it seems too wet, you can reduce the water slightly next time. Bananas can be a little different from batch to batch.
Stir in the flour, baking soda, salt, and baking powder until just moistened. I stop mixing as soon as I do not see dry flour anymore. Banana bread can get a little tough if it is over mixed, and nobody wants to work that hard for a slice of bread.
Fold in the chopped pecans. If you have a few extra minutes, you can toast the pecans first in a dry skillet for about 3 to 5 minutes. I do this when I want the flavor to be a little deeper. Just let them cool a bit before adding them to the batter.
Pour the batter into the loaf pan and bake for 50 to 60 minutes, or until a toothpick inserted in the center comes out clean. Start checking around the 50-minute mark. If the top is browning faster than the center is baking, loosely cover the loaf with foil for the last few minutes.
Let the bread cool in the pan for about 5 minutes, then remove it from the pan and finish cooling on a wire rack. I know it is hard to wait, especially when the kitchen smells like banana bread and rum, but the loaf slices better if it has a little time to settle.