Add water and sugar to a pan. Heat over medium-high heat until it comes to a boil.
Reduce the heat to low. Add boba pearls to the pan and cook for 15 minutes.
Switch off the heat and add honey to the pan and stir well. Remove the pan from the heat and let the pearls soak in for 30 minutes.
Add matcha green tea, sugar, and water to a blender and blend until everything comes together.
Take out the boba pearls from the syrup using a slotted spoon and divide them between the two glasses.
Add a few ice cubes to each glass.
Top the glasses with 1 cup of milk.
Now pour the green tea mixture over the milk and stir well. Serve immediately along with a large boba tea straw.