Step 1

Preheat oven to 350F. Combine 3 tablespoons water with sugar and a pinch of salt in a small saucepan over medium-high heat. Without stirring, melt sugar until completely dissolved, about 5 minutes.

Step 2

Once sugar is melted, reduce heat to medium-low and continue to cook, gently swirling the pan occasionally, until caramel has a deep amber color, about 15 to 18 minutes. Adjust heat to low, if necessary.

Step 3

Immediately pour the caramel into an 8-inch cake pan or divide evenly amongst llaneras or ramekins. Allow caramel to cool completely.

Step 4

While caramel cools, in a large bowl, combine egg yolks, coconut milk, sweetened condensed milk, coconut cream, coconut extract, and a pinch of salt. Very gently whisk in circular motions. The harder you whisk, the more bubbles will form in your custard, leaving bubbles in the finished product.

Step 5

Gently pour mixture through a mesh strainer into a measuring cup. You should have about 4 cups of mixture. Stir in lime zest. Allow mixture to sit to settle any bubbles that were formed. Pour mixture into the cake pan or divide mixture evenly into llaneras or ramekins.

Step 6

Place the flan pan inside a roasting pan and place the roasting pan in the oven. Add simmering water to the roasting pan so it surrounds the flan pan with about 1 inch of water. Bake flan until firm around the edges and still wobbly in the center, 40 to 50 minutes. Bake times will be less for a llanera or ramekins, depending on their size.

Step 7

Remove the flan pan from the water bath and let cool until room temperature. Transfer to the fridge and let set, about 4 hours. When ready to serve, remove flan from fridge and let sit 10 minutes. Run a knife around the edges and place a serving platter upside down over the top. Invert flan onto platter, scraping out any loose caramel. Top with toasted coconut flakes.