Boil water in a pot. Add sago pearls and cook until translucent with a tiny white dot in the center. Stir occasionally to prevent sticking.
Remove sago from heat, drain, and rinse under cold water. Set aside.
In another pot, combine coconut milk, water, rock sugar, and salt. Heat over medium-low heat, stirring until sugar dissolves. Do not boil.
Add sliced bananas to the coconut milk mixture. Gently simmer for 2-3 minutes until bananas are slightly softened.
Stir in the cooked sago pearls.
Serve warm or chill in the refrigerator before serving.
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