1
: Preheat oven to 350°F (180°C). Fill a roasting pan half full of water. Place in oven to heat up while making flan.
2
: Heat butter on medium heat in large skillet. Add apples and cinnamon. Cook for about 5 to 7 minutes until apples are tender. Set aside.
3
: Stir sugar and water together in medium saucepan on medium-high heat. When sugar is dissolved, stop stirring and cook for 5 to 6 minutes or until mixture turns to caramel. When sugar is a deep golden colour, pour into a 9” x 5” (23 cm x 13 cm) loaf pan. Tilt pan to coat bottom of pan. Place reserved apples on top of caramel.
4
: Whisk evaporated milk, sweetened condensed milk, eggs and vanilla until smooth. Strain mixture into clean mixing bowl. Pour strained mixture into loaf pan. Apples will float to top.
5
: Place loaf pan in roasting pan of hot water. Bake for 50 to 55 minutes, or until custard is set.
6
: Cool, wrap with plastic wrap and refrigerate until cold. To unmold, run a knife around edge of pan. Carefully invert on serving plate with edges to catch when completely cold.