Combine sugar, yeast and milk and allow mixture to sit for 4 to 6 minutes or until mixture is bubbling and foamy.
Combine flour and salt in a stand mixer bowl and whisk together. Create a well in the center of flour mixture and add yeast mixture.
Mix together with paddle attachment until a ‘shaggy’ dough forms.
With the mixer on medium speed, add eggs, one at a time, followed by vanilla.
Add butter, in a slow and steady stream, until fully combined and a sticky, wet dough has formed.
Cover and store in a in a warm area to rise until doubled in size, about 1 hour 30 minutes.
Uncover, fold in pearl sugar, re-cover, and allow dough to rise again for about 30 minutes.
Heat waffle iron and scoop ⅓ cup batter into each well and press until each waffle has nicely browned and caramelized.
Carefully remove from waffle iron and transfer to a cooling rack.
Repeat steps 8 and 9 until all batter has been used. Serve immediately.