In a heavy-bottomed saucepan (1.5qt is ideal), combine the grapefruit juice, water, sugar, salt, and grapefruit zest. Place over low heat.
While the mixture warms, whisk together your egg yolks and cornstarch in a medium bowl. Make sure the bowl is large enough to hold the yolks, cornstarch, and eventually the grapefruit juice mixture from above.
Increase the heat on the saucepan to medium and bring the mixture to a boil.
Once the mixture begins boiling, temper the egg yolks by slowly streaming the hot liquid into the yolk mixture while whisking vigorously. This prevents the eggs from scrambling.
Return the tempered mixture to the saucepan over medium-low heat. Whisk constantly, scraping the bottom of the pan to prevent scorching. The mixture will begin to thicken.
As soon as the mixture returns to a boil, whisk vigorously for 60 seconds, then remove from heat.
Strain the grapefruit curd through a fine-mesh sieve into a clean bowl to remove any lumps, cooked egg, and zest.
Whisk in the butter until fully melted and smooth. If you want your grapefruit curd to have a more orange or pink color rather than a bright yellow color from the egg yolks, also add a couple drops of pink gel food coloring during this step.
Pour the hot grapefruit curd into the prepared pie crust. Gently jiggle the pie as you pour to create a smooth, even surface.
Refrigerate for at least 3 hours, until fully set.