Preheat your oven to 350°F (175°C).
In a medium saucepan, stir together the water with the sugar over medium heat, stirring occasionally, until the sugar dissolves. Continue cooking without stirring until the mixture turns a golden caramel color, about 5–7 minutes. Watch closely to avoid burning.
Carefully pour the caramel into the bottom of a flan mold or a round baking dish, swirling it around to coat the base evenly. Set aside to cool.
In a blender combine the remaining ingredients, then blend until completely smooth. Strain the flan mixture through a fine-mesh sieve directly into the caramel-lined flan mold.
Place the flan mold inside a larger baking dish, and pour hot water into the larger dish until it reaches about halfway up the sides of the flan mold, creating a water bath.
Cover the flan mold tightly with aluminum foil to prevent browning, then carefully place the dish in the oven and bake for 60 minutes, or until the flan is set but still slightly jiggly in the center.
Remove the flan from the water bath and let it cool to room temperature. Once cooled, cover and refrigerate for at least 4 hours or overnight to allow the flavors to develop and the flan to fully set.
To serve, run a rubber spatula around the edges of the mold, place a serving plate on top, and carefully flip it over to release the flan. The caramel sauce will pour over the top, creating a beautiful finish.
Slice, serve and enjoy!