Heat sugar in small, heavy-duty saucepan over medium-low heat, stirring constantly,
for 3 to 4 minutes or until dissolved and caramel colored. Quickly pour into bottom
of 2-quart casserole dish.
Place evaporated milk, sweetened condensed milk, cream cheese, eggs and vanilla
extract in blender; cover. Blend until smooth. Pour mixture into prepared casserole
dish.
Place casserole in 13 x 9-inch baking dish; fill baking dish with warm water
to 1-inch depth.
Bake for 1 hour and 20 to 30 minutes or until knife inserted near center comes
out clean.
Remove flan from hot water; cool to room temperature in casserole on
wire rack.
Refrigerate for several hours or overnight.
Run knife around rim; gently shake to loosen. Invert onto serving dish.