This study evaluated the potential of Lakatan (Musa acuminata) banana peel as a raw material for the production of a roasted coffee-like beverage powder and compared its sensory, physicochemical, microbiological, and proximate properties with those of Saba (Musa balbisiana) banana peel beverage powder. Banana peels were cleaned, scraped, cut, roasted, ground, and brewed, with roasting treatments varying from 180 to 190°C and 15 to 25 min. Nine roasting treatments were subjected to sensory evaluation by 45 black coffee-drinking panelists using Quantitative Descriptive Analysis and a 9-point hedonic scale. Significant differences were observed among formulations in color, aroma, bitterness, and aftertaste based on QDA (p < 0.05), indicating that roasting condition and banana variety influenced the development of coffee-like sensory attributes. Hedonic scores for color, aroma, taste, and overall acceptability also differed significantly among treatments (p < 0.05), suggesting differences in panelist preference. Among the Lakatan formulations, BC7 (185°C for 20mins) was identified as the most acceptable treatment, exhibiting a very dark brown color, slightly perceptible coffee-like aroma, moderate bitterness, and moderately perceptible aftertaste. For Saba, BC2 (190°C for 15mins) showed comparable sensory characteristics and obtained higher taste and overall acceptability scores. The selected Lakatan and Saba formulations were both dark earthy brown, low in acidity, caffeine-free (<0.01 g/100 g), and free from detectable arsenic and lead. Coliform counts were <10 CFU/g, while aerobic plate counts were within the acceptable limit for powdered beverages. Proximate analysis showed that Lakatan had higher moisture and carbohydrate contents, whereas Saba had higher crude fat and ash contents. Results demonstrate that both Lakatan and Saba banana peels can be processed into microbiologically acceptable, caffeine-free roasted beverage powders with distinct sensory and compositional characteristics, supporting their potential as sustainable coffee alternatives and value-added products from banana peel waste.