In a medium pot, bring 4 cups of water to a rolling boil. Add soaked tapioca pearls and stir gently. Allow to return to a boil, reduce heat, and simmer for about 20 minutes until mostly transparent.

Drain tapioca pearls and rinse under cold water. Transfer to a bowl of cold water and soak for a few minutes.

Peel ripe mangos and slice them off the pit, reserving some chunks for topping. Chop the remaining flesh into smaller pieces.

Blend chopped mango flesh, coconut milk, sweetened condensed milk, and vanilla extract until smooth. Chill if desired.

Drain soaked tapioca pearls again, mix into the blended mango mixture, and serve in individual bowls topped with reserved mango chunks.