Cut buko meat into squares; set aside. Combine buko juice with enough water to make 31/2 cups of liquid. Pour mixture into a saucepan and add pandan leaves. Simmer for 10 minutes.
Turn off heat. Remove pandan and add gulaman powder. Bring to a boil, stirring until powder is completely dissolved. Pour into an 8×12-inch pan. Let cool slightly, then place in the refrigerator to set.
Cut into cubes. Set aside.
In a large bowl, mix together cream and condensed milk. Add fruit cocktail, nata de coco, red kaong, gulaman cubes, and buko meat. Transfer to a serving container, cover, and keep chilled in the refrigerator. Serve cold.