Ingredients:
1 can (14 oz / 397 g) sweetened condensed milk
1 can (12 oz / 340 g) evaporated milk
4 large eggs
1 tbsp vanilla extract
1 cup granulated sugar
1/4 cup water
Pinch of salt
Make the caramel:
In a saucepan, combine sugar and water
Cook over medium heat until sugar dissolves, then stop stirring
Continue cooking until amber caramel forms
Carefully pour caramel into a 9-inch (23 cm) round baking dish
Tilt to coat the bottom evenly
Make the custard:
Preheat oven to 325°F (163°C)
In a blender or bowl, whisk together condensed milk, evaporated milk, eggs, vanilla, and salt until smooth
Pour custard over the caramel in the baking dish
Bake:
Place the baking dish in a larger roasting pan
Add hot water to the roasting pan to reach halfway up the sides of the flan dish
Bake 50–70 minutes, until the center is just set (slight jiggle is fine)
Cool and chill:
Remove from water bath
Cool to room temperature
Refrigerate at least 4 hours or overnight
Unmold:
Run a thin knife around the edge
Invert onto a serving plate
Let caramel drizzle over the top