Add the sugar and water to a saucepan over medium heat.

Stir gently until the sugar dissolves completely.

Once dissolved, stop stirring—just let it simmer. Swirl the pan gently now and then for even color.

When the caramel turns a light amber, remove it from the heat right away to avoid burning.

Pour the caramel into your pudding mold or ramekins. Tilt gently so it coats the bottom evenly. Set aside to cool and harden.

Crack the eggs into a large mixing bowl and whisk well.

Add the milk, sweetened condensed milk, and vanilla extract. Whisk again until smooth.

In a separate bowl, mix the flour with about 6 tablespoons of the custard mixture. Stir until no lumps remain.

Add the flour mixture back into the main bowl and stir until fully combined.

Pour the custard over the cooled caramel, using a fine-mesh sieve to remove any bits or bubbles.

Pour water into a pot until it reaches about one-third up the sides of your mold.

Place a few folded paper towels at the bottom to prevent rattling.

Set the mold gently on top.

Cover and steam over low heat for about 30 minutes. It’s ready when a toothpick comes out clean or with just a few moist crumbs.

Let your no bake caramel pudding cool to room temperature, then wrap and refrigerate for a few hours until fully set.

Preheat your oven to 325°F (165°C).

Place the filled mold into a larger baking dish.

Add hot water to the dish until it reaches about one-third up the sides of the mold.

Bake for 45 to 60 minutes, or until the edges are set. (Timing may vary depending on your mold size.)

Cool to room temp, then cover and refrigerate for several hours before serving.

Run a thin knife gently around the edge of the pudding.

Place a plate over the top, then flip it quickly but carefully.

Give it a little shake if needed, and lift the mold. Enjoy!