Leche Asada (Roasted Milk Custard)

Preheat the oven to 350 degrees F (175 degrees C).

Make caramel: Combine sugar and water in a heavy saucepan over medium heat. Cook, stirring constantly, until golden brown, 5 to 10 minutes. Pour into a 9x5-inch glass baking dish, completely coating the bottom.

Make custard: Combine milk, sugar, beaten eggs, and vanilla in a large bowl; beat with an electric mixer until well mixed. Pour into a fine mesh strainer over caramelized sugar in the dish.

Bake in the preheated oven until custard is set but still slightly jiggly in the center, 45 to 55 minutes. Remove from the oven and let cool completely, 15 to 20 minutes. Place in the refrigerator until completely chilled and set, 6 hours to overnight.

To serve, slide a knife along the edges of the baking dish to loosen custard. Place a plate or platter on top of the dish and carefully and quickly invert. Remove the baking dish and serve.