Flan de Calabaza (Pumpkin Flan) is a rich & creamy custard-based dessert made with pumpkin puree, warm spices, sweetened condensed milk, evaporated milk, and a smooth caramel topping. It has all the Fall flavors of pumpkin pie without the crust!
In a saucepan, melt sugar over medium-high heat, stirring constantly to prevent burning until it turns an amber color. Don’t walk away. Sugar can burn so easily. Once you get liquid gold, remove it from the heat and pour the caramel into a 9-inch round cake pan, moving it around to coat the bottom of the pan.
Preheat the oven to 350°F.
Make sure all your ingredients are at room temperature. In a high-speed blender, add sweetened condensed milk, evaporated milk, pumpkin purée, eggs, vanilla, spices, and salt. Blend until smooth. Pour the milk mixture over the set caramel in the round pan.
Place the cake pan in a large roasting pan. Carefully fill the roasting pan with about 2 inches of hot water.
Bake the flan for 50-55 minutes or until the center is just set. If the outer rims look set but the middle jiggles like Jello-O when you gently shake the pan, the flan is done. If it is watery meaning it is not jiggly but liquidy, continue to bake for 5-10 minutes until no longer liquidy. Remember jiggly is OK. It's what we want. Careful not to overbake or you run the risk of it getting a rubbery texture. The flan will continue to set as it cools and the rest of the 'setting' process will continue in the fridge.
Carefully remove the pan from the water bath and allow it to cool for 30 minutes at room temperature. After 30 minutes, place the flan in the fridge for at least 4 hours or overnight so the flan can fully set.
Remove the pan from the fridge. Run a knife around the sides of the round pan to slightly loosen the flan. Place a large plate on top of the round pan and invert the pan (flip it over) so the flan transfers onto a large plate. Slice, serve, and enjoy!