Instructions

1. Heat the oven to 350°F.
2. Bring 1 cup granulated sugar and 1/4 cup water to a boil in a small saucepan over high heat, gently swirling the pan to incorporate the sugar (avoid stirring, which can cause crystallization and result in the caramel seizing).
3. Gently swirl the pan again. Reduce the heat to medium and cook, swirling the pan occasionally, until the syrup turns a dark caramel color, 12 to 16 minutes.
4. Carefully pour the caramel into an 8-inch round cake pan, swirling the pan to coat the bottom. Place the cake pan in a large roasting pan. Let cool slightly, about 10 minutes.
5. Blend 1 (14-ounce) can sweetened condensed milk, 1 cup heavy cream, 5 large eggs, 2 large egg yolks, and 2 teaspoons vanilla extract in a blender until smooth. Pour over the caramel in the cake pan. Cover the pan tightly with aluminum foil.
6. Place the roasting pan onto the oven rack, then carefully fill the roasting pan halfway with hot tap water to create a water bath.
7. Bake until a tester inserted into the center comes out clean, 50 to 60 minutes.
8. Carefully remove the roasting pan from the oven. Transfer the cake pan to a wire rack, uncover (reserve the foil), and let cool for at least 30 minutes.
9. Cover the pan again and refrigerate until thoroughly chilled, at least 3 hours or up to overnight.
10. When ready to serve, carefully run a sharp knife or small offset spatula around the cake pan to loosen the flan. Invert a plate that’s wider than the cake pan over the pan. Grasping both the pan and plate at the same time with both hands, flip them over. Remove the cake pan.