Filipino Caramel Flan

Preheat your oven to 375 degrees Fahrenheit (190 degrees Celsius).

Combine sugar and water in a medium-sized saucepan placed over high heat. Allow the mixture to boil without stirring, as this can cause it to crystallize, and continue boiling until the sugar syrup starts to darken in color, taking around 7-10 minutes. Lower the heat to a medium-low setting and observe the color, as this will take approximately 2-3 minutes. Once the caramel has reached a deep brown hue, carefully pour it into a 10-inch flan mold. Make sure to tilt the mold so that the entire bottom surface is covered.

In a large bowl, combine evaporated milk, sweetened condensed milk, egg yolks, and vanilla extract. Mix the ingredients lightly to prevent any bubbles or foam from forming; then strain the batter.

Position a roasting pan that is large enough to hold the flan mold on the oven rack. Fold two 32-inch long strips of foil in quarters lengthwise, then cross them and place the flan mold in the roasting pan, with the ends of the foil strips extending over the edges of the roasting pan. Crimp the ends slightly to keep them in place. Slowly pour the custard mixture into the caramel-lined flan mold. Add enough hot water to the roasting pan so that it comes halfway up the side of the mold. Cover the roasting pan with aluminum foil.

Bake the flan in the preheated oven until it is firm and a knife inserted near the center comes out clean, taking around 1 hour. Carefully remove the roasting pan from the oven and then carefully remove the flan mold from the roasting pan using the foil strips. Let it cool on a wire rack for about 1 hour. Cover and chill in the refrigerator until completely cool, at least 4 hours or overnight.

To serve, run a paring knife around the edges of the flan. Place the mold on a rimmed platter and carefully flip it over to release the flan from the mold. Scrape any excess caramel from the mold over the flan.