Make the caramel:

In a saucepan, add sugar and water. Cook on medium heat, stirring often until the sugar melts and turns a golden color. Once it becomes caramel, quickly pour it into the baking mold you’ll be using. Swirl the pan gently so the caramel coats the bottom and sides before it hardens.

Prepare the flan layer:

In a large bowl, whisk together the eggs, sweetened condensed milk, vanilla, cornstarch, and milk until smooth. Strain the mixture to remove any lumps, then pour it gently over the caramel in your mold.

Prepare the cake layer:

In another bowl, prepare the cake mix following the directions on the box (usually adding eggs, oil, and water). Pour the cake batter slowly over the flan mixture — it might mix a little, but don’t worry! During baking, the layers will naturally separate.

Bake in a water bath:

Place your mold inside a larger baking pan. Fill the larger pan with about 1 liter of hot water (the water should reach halfway up the mold). Bake in a preheated oven at 350°F (180°C) for about 45 minutes, or until a toothpick inserted in the cake layer comes out clean.

Cool and chill:

Remove from the oven and let it cool completely at room temperature. Then cover and refrigerate for at least 8 hours or overnight for the best texture.

Unmold and serve:

To release the caramel easily, place the mold in a shallow tray with hot water for about 5 minutes. Then, carefully flip it onto a serving plate — you’ll see that beautiful caramel sauce dripping down!