Preheat your oven to 350 degrees (F) and make sure all of your ingredients are room temperature. This is very important
Heat a small sauce pan to medium-low heat, and add sugar (this will make your caramel sauce.)
Allow sugar to slowly melt without stirring. Instead, swirl the melted sugar to ensure there are no clumps. This also allows the sugar to regulate its heat and not burn.
While the sugar is melting, quickly prepare the flan custard by mixing the eggs, cans of milks, cream cheese and vanilla extract. You can mix by hand using a whisk or by using a blender.
Mix until cream cheese is fully incorporated and smooth. If there are small clumps leftover, don't worry.
After 6-10 minutes, sugar should be fully melted and resemble a dark amber color. If so, turn off heat and pour the sugar into a round baking dish. Swirl to ensure even coverage.
Still working quickly, to avoid the sugar from hardening, pour the flan custard through a mesh strainer to remove any access clumps.
Add the strained custard on top of the warm sugar and place round baking dish into a water bath. Hot water should reach 1 inch up the side.
Bake for 40 minutes to 1 hour or until flan is set and center is slightly jiggly.
Once done, remove from oven and rest flan in water bath for 2 hours. Then remove round dish from water bath and cool overnight in fridge.
To serve, place large plate on top of round dish, flip and enjoy!