In a medium saucepan over medium to low heat, add the water, the sugar, the strawberry-flavored jelly powder and mix until the jelly powder has completely dissolved.
Remove from the heat and transfer to 2 medium ovenproof dishes, dividing the jelly mixture into two, half and half.
Take it to the fridge and let it chill until the jelly is well set.
Next, cut the jelly into cubes, transfer everything to a large mixing bowl, add the cooked tapioca pearls and mix very well until combined.
Now, add the heavy cream, the condensed milk, the evaporated milk and mix again.
Add the strawberry essence and mix once again until well combined.
Serve.