Step 1

Preheat oven to 350 degrees F.

Step 2

In a small skillet over medium heat, cook 3/4 cup sugar until completely melted and caramelized, stirring occasionally. Immediately pour into a 9-inch cake pan. (Be careful, caramelized sugar will be hot!)

Step 3

In a blender, combine condensed milk, evaporated milk, eggs, vanilla, and remaining 1/4 cup sugar. Blend 15 seconds or until thoroughly combined. Pour over caramelized sugar in pan.

Step 4

Place flan pan in a large roasting pan. Pour just enough hot water into roasting pan to go halfway up sides of flan pan (being careful not to get water into custard). Bake 55 to 60 minutes or until a knife inserted in center comes out clean. Carefully remove from hot water bath and allow to cool 1 hour. Cover and chill overnight or at least 4 hours.

Step 5

Just before serving, run a knife around inside edge of pan to loosen flan from pan. Invert flan onto a 12-inch rimmed serving plate.