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1
You will need a saucepan, 2-qt. or so oven-safe casserole or Pyrex bowl, an electric mixer, and a roasting pan.
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2
Combine the sugar and water in a saucepan and heat slowly. Stir from time to time and cook until it starts to turn golden brown. Be very careful not to burn the sugar. Remove from the heat as soon as it turns color and pour into your Pyrex bowl. Swirl the mixture around the bowl to coat the bottom and sides. Set aside. It will harden.
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3
Position your oven rack to the middle position. Preheat your oven to 325 degrees F.
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4
In a clean bowl, add the softened cream cheese and mix on slow speed until smooth and creamy.
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5
Add the (room temperature) eggs, one at a time, mixing well after each addition.
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6
Finally add the evaporated milk, mixing well, and then the sweetened condensed milk. Continue beating for about 5 minutes until well combined.
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7
Pour mixture into the prepared Pyrex bowl and place the bowl in a deep roasting pan. Add hot water, about 3/4 of the way up the sides, being careful not to spill any water into the custard.
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8
Position the roasting pan on the middle oven rack and bake for 1 hour. Depending on your oven, this could take a little longer. It is usually done when a toothpick inserted in the center comes out clean.
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9
Carefully, and cautiously remove you flan from the oven. The center may still be a little wobbly, but should set up as is cools.
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10
Cool your flan before putting it in the refrigerator. Chill, preferably overnight.
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11
To serve, run a thin knife around the edges to loosen the flan; then invert onto a serving dish that is deep enough to hold the lovely flan and caramel liquid.
