In a small sauce pan add sugar and water. Place the pan over medium heat and cook until you’ll have a nice dark caramel (see note 1).
Remove the caramel from the heat as soon as its done.
Carefully, pour the caramel into the flan mold while trying to distribute as evenly as possible on the bottom and a bit of the sides.
Make the flan mixture
Place eggs, milk, sugar and vanilla extract into a blender. Blend at medium until everything is nicely combined (see note 2).
Pour the mixture into the mold with the hardened caramel.
Fill a pan large enough to place inside the mold with the flan. Pour in warm water to fill about ⅔ of the pan capacity.
Cover the flan with foil and bake in a preheated oven at 350°F (175°C) for about 1 hour and 15 minutes (see note 3).
Allow the Mexican flan to cool down and chill for about 3 hours (or overnight).
Run a knife along the edges of the mold.
Place a serving plate on top of the pan and, with a smooth move, quickly flip it over.
Lift off the flan pan and your flan will be sitting in the caramel ready to slice and serve.
Pay attention when making the caramel as you don’t want the sugar to burn, so, if you see the center is getting too dark but there’s still clumped sugar on the sides, low the heat and rotate the pan to cook evenly the caramel.
If you want a nice, silky Mexican flan texture, try to not over mix, otherwise you’ll end with a very “bubbly” flan texture once cooked and not the smooth, silky texture it should be.
Don’t worry if the flan will seems a little uncooked in the center, it will continue to cook while cooling down.