Never heard of it but sounds nice! Pink sands can happen for a variety of reasons and I’m not sure exactly what is going on in Crete. I collected some pink sand in the Bahamas that I found interesting and long story short, it was manganese stained fossil coral. It sounds like a similar process is happening in Crete with red stained foraminifera tests (tiny shells). Not sure what the red is in the tests in Crete without digging into it as I only did a cursory search but iron oxide and/or manganese aren’t horrible guesses.

Looks like a cool spot!