Heat oven to 350 degrees F. Fill two large baking casserole dishes with one inch
of hot water. Place 8 custard or dessert oven-safe cups in water.
Combine sugar and water in a small saucepan. Cook over low heat, constantly stirring,
until sugar is dissolved. Once sugar is dissolved, bring to a boil. Boil, without
stirring, for 10 to 15 minutes, until liquid is golden brown. Quickly pour into
cups, distribution evenly amount the 8 cups.
In a blender, combine condensed and evaporated milks, cream cheese, butter, eggs
and vanilla extract. Blend until smooth. Pour into cups on top of sauce. Place baking
dishes with water and oven-safe cups in the oven.
Bake for 30 to 40 minutes or until
a knife inserted in the middle of a cup comes out clean.
Remove cups from pan and
allow to chill for at least 1 hour in the refrigerator.
Serve in the cup or run a knife around the edge, invert cup, and serve with flan
sauce on top.