In a large bowl, whisk together the water, pudding mix and sweetened condensed milk until smooth and thick. Cover with plastic wrap and refrigerate for 2 hours until set.

In a medium bowl, beat the heavy cream until stiff peaks form. Working in thirds, fold the whipped cream into the pudding mixture until combined.

Place one layer of wafer cookies in the bottom of a trifle bowl and then top with a layer of bananas. Spread a layer of pudding on top of the banana and top with caramel sauce. Sprinkle with sea salt then repeat until all the ingredients have been used (or your bowl is filled to the top.) finishing with a layer of pudding. Cover and refrigerate for 1 hour or overnight. Drizzle with caramel sauce, a sprinkle of sea salt and garnish with banana before serving, if desired.