Begin by gathering all ingredients and measuring them out. Set a heavy-bottomed saucepan on your counter. In the saucepan, combine the coconut condensed milk, egg yolks, pandan powder, and kalamansi zest. Whisk everything together until completely smooth with no streaks.
Place the saucepan over very low heat. This is important - the heat must be low to prevent burning. Start stirring continuously with a silicone spatula. You'll need to keep stirring without stopping for about 15-20 minutes. The mixture will gradually thicken as you stir. Watch for when the mixture becomes shiny - this is your signal that it's almost ready. Stop cooking before any oils start to separate, as this means it's overcooked. The mixture will still seem a bit runny, but this is normal.
Remove the pan from heat and let the mixture cool completely to room temperature. Once it reaches room temperature, transfer it to the refrigerator and chill for at least one hour until firm.
After chilling, scoop out portions using a teaspoon (about 1 tablespoon each) and roll them into small balls with your hands. If the mixture sticks to your hands, you can lightly wet them with cool water.
In a small bowl, mix together the caramel crumbles and remaining pandan powder for the coating. Roll each yema ball in this mixture until evenly coated. Place the finished yema in an airtight container and store in the refrigerator. They will keep fresh for up to 5 days, though they rarely last that long.
For the best taste, let the yema sit at room temperature for 5 minutes before eating. This allows the texture to soften slightly, making them perfectly chewy.