Black Canyon of the Gunnison National Park Complex Establishment Act of 1986 - Title I: Black Canyon of the Gunnison National Park Complex - Establishes the Black Canyon of the Gunnison National Park Complex, Colorado, as a unit of the National Park System. Requires the Secretary of the Interior to develop a general management plan for the four units of the Complex: (1) the Black Canyon of the Gunnison National Park; (2) the Curecanti National Recreation Area; (3) the Lower Gunnison Wild and Scenic River; and (4) the Gunnison Gorge National Recreation Area. Provides that the Gunnison Gorge National Recreation Area shall not be included as a part of the National Park System. Title II: Black Canyon the Gunnison National Park - Redesignates the Black Canyon of the Gunnison National Monument as the Black Canyon of the Gunnison National Park to be administered as a unit of the National Park System. Title III: Curecanti National Recreation Area - Establishes the Curecanti National Recreation Area to be administered appropriately. Title IV: Gunnison Gorge National Recreation Area - Establishes the Gunnison Gorge National Recreation Area to be administered appropriately. Title V: Lower Gunnison River - Amends the Wild and Scenic Rivers Act to designate specified segments of the lower Gunnison River as a wild or scenic river area. Grants Colorado jurisdiction over such segments. Requires the Secretary to acquire certain water rights to protect such segments, making other water available without charge to affected localities. Provides compensation for the loss of proposed hydroelectric facilities of the Colorado Ute Electric Association, Inc. Title VI: Miscellaneous Provisions - States that existing property rights remain unaffected by this Act. Authorizes appropriations.