In a pot, combine the water, agar agar powder, and sugar for the pandan layer. Stir to combine and heat until the agar agar and sugar are fully dissolved.

Add the pandan extract and coconut milk. Stir gently and bring the mixture to a light boil. Once boiling, remove from the heat.

In a separate pot, combine the coconut milk, water, agar agar powder, and sugar for the coconut layer. Stir and bring to a light boil, making sure the agar agar and sugar have fully dissolved. Remove from the heat.

Pour a layer of the pandan mixture into a shallow dish. Allow it to sit until the surface has just begun to set.

Gently pour a layer of the coconut mixture over the pandan layer. Allow it to partially set before continuing.

Continue alternating between the pandan and coconut mixtures. For five total layers, start and finish with the pandan mixture.

Let the finished jelly cake cool at room temperature, then transfer it to the refrigerator for 1–2 hours, or until completely set.

Slice into cubes or your preferred shape and serve chilled.