Step 1

Grease a 7-inch round cake pan with vegetable oil.

Step 2

Add the sugar to a small saucepan, then set pan over medium-low heat. Cook the sugar, stirring occasionally with a silicone spatula once it begins to melt, until dark golden brown, 3 to 5 minutes. Very carefully pour the caramel into the prepared pan and, using heat-resistantmitts, swirl the pan to evenly coat the bottom.

Step 3

In a blender, combine the eggs, condensed milk, evaporated milk, cream cheese, vanilla, and salt. Blend until very smooth, then let stand for 5 minutes. Using a spoon, skim off and discard any foam on the surface. Pour the mixture into the caramel-lined cake pan and cover withaluminum foil.

Step 4

Pour 2 cups water into the Instant Pot. Place the covered pan on a long-handled wire rack. Holding the handles of the rack, lower it into the pot.

Step 5

Secure the lid and set the Pressure Release to Sealing. Press Pressure Cook, then set the cooking time for 15 minutes.

Step 6

When the cooking program is complete, press Cancel. Perform a quick pressure release by moving the Pressure Release to Venting. Open the pot and, wearing heat-resistant mitts, grab the handles of the rack and lift it out of the pot. Carefully remove the foil from the pan; the center of the flan will still be a little jiggly.