Soak the tapioca pearls in the water for two hours.

In a pot over medium heat, add the tapioca pearls along with the soaking water. Add the coconut milk. Stir constantly, and when it starts to boil and the pearls begin to float, reduce the heat.

Add the remaining ingredients (vanilla, cinnamon, salt, and stevia). Continue stirring. When the pearls are transparent and reach your desired thickness, remove from heat.

Let cool slightly. Serve with cinnamon, nuts, or toppings of your choice.