Prepare the Caramel: In a medium saucepan over medium heat, melt 1 cup of sugar until it becomes golden brown, stirring continuously to avoid burning. Once melted, pour the caramel into a round flan mold or cake pan, tilting to coat the bottom evenly, and set aside to cool.

Blend the Flan Mixture: In a large bowl, combine the softened cream cheese, sweetened condensed milk, evaporated milk, eggs, vanilla extract, and a pinch of salt, using a hand mixer or blender to blend until the mixture is smooth and well incorporated.

Pour into Mold: Carefully pour the cream cheese mixture over the cooled caramel in the mold.

Bake in a Water Bath: Preheat your oven to 350°F (175°C), place the flan mold inside a larger baking dish filled with hot water, and bake for about 1 hour or until set.

Cool and Chill: Once baked, remove from the oven and water bath, allow the flan to cool to room temperature, then refrigerate for at least 4 hours or until completely chilled.

Serve: To serve, carefully run a knife around the edges of the mold to loosen the flan, invert it onto a serving platter, allowing the caramel to drizzle over the top, and enjoy.