Prepare and measure all ingredients. Peel the bananas and slice them into rounds. Toss the banana slices with 2 tablespoons brown sugar and a pinch of salt. Let sit for 15 minutes so the bananas absorb the flavor. Add the tapioca starch, then gradually pour in the warm water, mixing until well combined.

Once the bananas and starch are fully mixed, add the vanilla extract and 2 drops of yellow food coloring. Line a cake pan with parchment paper and lightly brush both the pan and paper with oil.

Arrange some banana slices evenly on the bottom of the pan for a nice presentation. Pour in the banana mixture and spread it evenly. Arrange more banana slices on top, then gently tap the pan to even out the batter. Bring water to a boil in a steamer, place the pan inside, and cover the lid with a towel to prevent water from dripping onto the cake. Steam for about 25 minutes. Check doneness by inserting a toothpick—if it comes out clean, the cake is done. Leave the cake in the steamer for another 15 minutes. Let the cake cool completely before removing from the pan.

Pour the coconut milk into a saucepan with the sugar, salt, and rice flour (dissolved in a little water). Cook over medium heat, stirring constantly. When the coconut milk comes to a boil, add the rinsed tapioca pearls. Simmer on low heat until the pearls turn translucent and the sauce thickens, then turn off the heat. Add banana extract if desired.

Cut the cake into pieces, drizzle with coconut sauce, and sprinkle with peanuts. Enjoy!