#### **Step 1: Make the Caramel**
In a **medium saucepan**, heat **sugar** over **medium-low heat**, stirring constantly until it melts and turns **a deep golden brown**.
Quickly pour the caramel into a **flan mold or cake pan**, tilting to coat the bottom evenly. Let it cool and harden.
#### **Step 2: Prepare the Custard**
In a blender or mixing bowl, combine **evaporated milk, sweetened condensed milk, eggs, egg yolks, and vanilla extract**.
Blend or whisk until smooth and well combined.
#### **Step 3: Bake the Flan**
Pour the custard mixture over the cooled caramel.
Place the flan mold in a **larger baking dish** and fill the outer dish with **hot water** until it reaches halfway up the flan mold (this creates a water bath for even cooking).
Bake at **350°F (175°C)** for **50-60 minutes**, or until the center is set but slightly jiggly.
#### **Step 4: Cool & Unmold**
Remove from the oven and let cool at **room temperature** for **30 minutes**, then refrigerate for **at least 4 hours or overnight**.
To serve, run a knife around the edges and carefully **invert the flan onto a serving plate** so the caramel drips over the top.