Pre-heat oven to 325°F.
Place the sugar in a heavy saucepan and cook over medium heat, stirring regularly, until caramelized. Pour the caramel into a 9-inch round, 3 to 4-inch deep-pan, turning to coat the bottom and sides. Set aside for 15 minutes.
In a large bowl, mix the milks, eggs, coconut extract, vanilla extract, and salt. Pour the mixture over the caramel. Set in a water bath and cover with foil.
Bake for 1 hour or until set around the edges, with a slight jiggle in the middle. Remove from the oven and let the flan cool in the water bath, about an hour. Once cool, refrigerate for at least 2 hours.
Before serving, turn the flan onto a serving plate. Serve as is or spoon coconut syrup over flan.
Enjoy!
Coconut Syrup:
In a small saucepan, heat sugar and water over medium-high heat until it dissolves, about 30 seconds, Stir in the coconut flakes.