Introduction: Transgender women (locally known as waria) represent a key population that is highly vulnerable to HIV/AIDS. Elevated rates of risky sexual behavior, limited access to healthcare services, and pervasive social stigma and discrimination intensify this vulnerability. Although intervention programs, such as Voluntary Counseling and Testing (VCT), are available, the awareness and personal experiences of transgender individuals concerning these services remain underexplored. This study aimed to delve into the lived experiences of transgender women in Malang, East Java. Method: This research employed a qualitative design informed by a phenomenological approach. Data were gathered through in-depth interviews with 12 purposively selected transgender participants, alongside field observations. The data were analyzed using thematic analysis to uncover patterns and meanings within the participants' subjective experiences. Results: The study revealed four key themes: a limited understanding of HIV and its associated risks, low engagement with HIV testing services, psychological distress following a positive diagnosis, and risky sexual behaviors driven by financial necessity. Participants expressed inadequate knowledge about HIV transmission, inconsistent condom usage, irregular testing habits, emotional distress, internalized stigma, and ongoing high-risk behaviors influenced by economic pressures. Conclusions: Transgender women face a range of intricate challenges. Despite possessing some awareness of HIV, factors such as limited testing participation, psychological distress, and economic vulnerability contribute to the persistence of risky sexual practices. It is crucial to implement integrated interventions that focus on health education, mental health support, improved access to services, and economic empowerment to reduce the ongoing risk of HIV transmission effectively.