Preheat the oven to 350º F.

Place the cup of sugar in a small pan and melt over medium heat until the sugar is fully dissolved and turns into caramel.

Be careful not to let the caramel turn too dark, or it will taste bitter.

Pour caramel into a 10-cup bundt pan and swirl to coat all the sides. 

Be extremely careful, as hot caramel can cause severe burns.

Set aside.

Beat cream cheese, all three milks, eggs, vanilla extract, and salt using an electric mixer.

Make sure the mixture is really smooth and free of lumps.

Pour the mixture into the caramel-coated bundt pan.

Place the pan inside a large roasting pan.

Fill the roasting pan with enough water to come halfway up the sides.

Cover the Bundt pan with foil.

Bake until the center jiggles slightly when the pan is moved, about 1 hour 40 minutes.

Remove from the oven and let cool at room temperature for 30 minutes.

Refrigerate, covered, for at least 3 hours; overnight is better.

Turn the flan out onto a platter.

Sprinkle with toasted coconut for decoration, and serve.