Combine yeast and warm water in a 1-cup glass measuring cup; let stand 5 minutes.
Meanwhile, combine flour and next 3 ingredients in a large bowl; make a well in center of mixture. Whisk together egg yolks, buttermilk, and next 2 ingredients. Whisk in yeast mixture; add to dry mixture, stirring just until moistened.
Beat egg whites at high speed with an electric mixer until stiff peaks form. Fold beaten egg white into batter. Cook in a preheated, oiled waffle iron until done.
Dollop whipped cream onto waffles. Top with Caramelized Bananas, and sprinkle with coconut and nuts.
2012 Christmas with Southern Living
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