1/2 cup sugar
2 1/2 tablespoons water
4 eggs, separated
1 can condensed milk
1 can evaporated milk
1 cup milk
1/2 teaspoon vanilla
Preheat oven to 350°F.
In a saucepan, combine sugar and water, and boil rapidly until a deep amber color. Pour the mixture in the bottom of a 9-inch glass or ceramic pie pan and coat sides. Let cool.
In a bowl, stir egg yolks and then add all the milks and vanilla. Mix batter well. In another bowl, whip egg whites until fluffy, not stiff. Fold whites into batter. Pour mixture into the caramelized sugar-coated pie dish.
Place dish in large roasting pan or baking pan. Add enough hot water to come halfway up sides of pie dish. Bake flan in water bath for 1 hour, until set in center. Let cool, then cover and chill overnight. (Can be made two days ahead. Keep chilled.)To serve:
Allow flan to come to room temperature. Run a sharp knife around the edge to loosen. Place a serving plate that's slightly larger than the pie pan on top of the pie pan, and flip upside down. Gently remove the pie pan and cut the flan into wedges to serve.