Preheat oven to 350°F. Grease a 9-inch round cake pan.
In a small saucepan, combine the sugar and water. Cook over medium heat, stirring often, until the sugar has dissolved and the mixture is bubbling. Remove from heat and let cool.
In a medium bowl, whisk together the eggs, cream cheese, evaporated milk, and vanilla extract until smooth.
Pour the cooled sugar syrup into the prepared pan and tilt to evenly coat the bottom of the pan.
Slowly pour the cream cheese mixture over the syrup. Place the pan on a baking sheet and bake for 25-30 minutes, until the flan is set and a toothpick inserted in the center comes out clean.
Let the flan cool for 15 minutes before inverting onto a serving plate. Serve warm or cold.
Interesting Facts
Flan is a popular dessert in many Latin American countries.
The word “flan” comes from the Latin word “flado”, which means “flat cake”.
Flan can be served warm or cold and is often topped with fresh fruit or a dollop of whipped cream.