1. Begin by warming the milk and water until lukewarm and dissolving the yeast in this mixture. Let it sit for about five minutes until frothy.
2. Gradually add the flour, eggs, and salt while mixing continuously to create a smooth dough.
3. Incorporate the softened butter bit by bit, ensuring each addition is well mixed before adding the next.
4. Cover the bowl with a clean towel and let the dough rise in a warm area for approximately one hour or until it doubles in size.
5. Once the dough has risen, gently fold in the pearl sugar for a caramelized sweetness in the finished waffles.
6. Preheat your waffle iron and lightly grease it with non-stick spray or melted butter, ensuring even cooking.
7. Place a small ball of dough in the center of the waffle iron and close it, cooking until golden brown and crispy.
8. Serve the waffles warm and fresh off the iron, either plain or with your favorite toppings like fresh fruit, whipped cream, or chocolate drizzle.