FIRST STEP:

1 can evaporated milk
5 eggs
1 tsp. vanilla
1 can condensed milk
1/2 c. sugar
1 (8 oz.) pkg. cream cheese

Combine all ingredients in a blender.

SECOND STEP (Caramel) :
1 c. sugar
1 tsp. water, if desired

Put sugar in a saucepan on low heat. The sugar will melt. Cook until it is light brown in color. Be careful not to burn as the flan will taste sour. Cool completely.

THIRD STEP:

Pour cooled caramel into baking dish. Pour liquid mixture over caramel. Do not mix. Bake at 350 degrees for 45 minutes. Insert a knife in the center and if it comes out clean, remove from the oven. Let cool; remove from baking dish and refrigerate.