To prepare the caramel, put 1 cup of sugar in a small pot with ¼ cup of water. Bring to a boil over high heat. Stir once and reduce the heat to medium and cook about 5 minutes or until the syrup turns a caramel color.Immediately pour an equal amount of the caramel into each ramekin or any oven proof mold you want to use. Swirl each dish to coat the base with the caramel, work fast as the caramel will harden quickly as it cools.
Place all the ramekins in a large roasting pan and set aside.Preheat the oven to 350° F.In a blender add the eggs, condensed milk, evaporated milk, cream cheese, guava paste and vanilla extract and blend until smooth.Carefully pour an equal amount of the flan mixture into the caramelized ramekins in the roasting pan. Then add hot water to the roasting pan, not to the ramekins, until the water comes half way up the sides of the ramekins.
Place the roasting pan in the oven and bake for 1 hour or until a knife inserted in the center of the flan comes out clean.
Remove from the roasting pan and cool for at least 30 minutes. Then cover and refrigerate for at least 2 hours.To serve, carefully run a knife around the edge of the ramekin, cover with a serving plate, flip it over and gently remove the ramekin allowing the caramel run over the sides.
