This Instant Pot Coconut Flan, also known as Flan de Coco, will delight your tastebuds! Unbelievably smooth and creamy, it explodes with coconut flavor. Wow your friends and family with a slice of this delightful dessert.
Add the sugar to a small saucepan and cook over medium-high heat, continually stirring the sugar as it heats. The sugar will first begin to clump after 5 or 6 minutes and then slowly start to melt and darken creating the caramel. Continue to stir, allowing the sugar to cook until all of the clumps have dissolved. The entire process takes about 10 minutes.
Immediately remove the caramel from the stove and pour into the flan pan. Leaving the caramel on the stove any longer could cause it to burn. When pouring the caramel into the flan pan, make sure to spread it evenly across the bottom of the pan.
Very carefully rotate the pan so that the caramel coats the sides of the pan about halfway up. Caution: the caramel is extremely hot and can cause severe burns, so always handle it very carefully. Continue rotating the caramel as it cools and hardens to the point that it no longer flows around the pan.
Set the pan aside and allow the caramel to continue cooling while you prepare the flan. The caramel will crack as it cools.
for the Flan
Add the coconut milk, cream cheese, condensed milk, eggs, and coconut to a blender and pulse on high speed until fully mixed.
Pour the flan mixture into the flan pan over the caramel coating. You will hear the caramel begin to crack and make popping sounds as you're pouring. Close and seal the flan pan. If you don't have a covered flan pan, use foil to cover your flan.
Add the 3 cups of water to your Instant Pot and, using the trivet, carefully place the covered flan pan in the Instant Pot.
Set the Instant Pot to cook on "Manual" or "Pressure Cook" High Pressure for 14 minutes. Once the flan has completed its cooking time, allow for a full Natural Pressure Release.
Carefully remove the flan from your Instant Pot and refrigerate for at least 3 hours before unmolding. You'll get the best results by leaving the flan in the refrigerator overnight.
Remove the flan pan from the refrigerator, remove the cover, and run a knife along the sides of the pan, separating the flan from the edges of the pan.
To unmold the flan, place a plate over the top of the pan and, holding the plate firmly to the top of the flan pan, carefully flip the flan over so that it releases from the pan onto the plate.
Set the plate on the countertop and then gently lift the flan pan to reveal this beautifully delicious caramel covered dessert.