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This study aims to determine the perceptions and preferences of social investors towards cash waqf link sukuk or CWLS. The problem in this study is that it has not achieved the target of fulfilling the cash waqf link sukuk investment due to various factors and this has become the basis for finding out the constraints of the target waqf market for this money. The methodology of this research is qualitative and explorative by conducting interviews with 37 respondents according to their classification. The results of this study that the public perception is still not knowing the information and socialization related to money waqf because socialization has not been carried out optimally by the government and other institutions that are bound. Whereas the preference of this study shows that the general public is still accustomed to waqf not money, so there is still something new in this cash waqf link sukuk and the main reason for the community to choose cash waqf because of the worship motivation.