• In a small saucepan add sugar.
  
• Melt over low-medium heat until golden, stirring constantly.
  
• Remove from heat and pour the hot caramel  into the bottom of a slightly greased 9-10 inch (23-25cm) bundt pan. Swirl the pan to spread evenly. Set aside.
  

Prepare the vanilla cake mixture.

• Preheat oven to 350F (180C). In a medium whisk the flour with baking powder  and salt. Set aside until ready to use.
  
• In a large mixing bowl add butter and sugar and mix until creamy.
  
• Incorporate eggs one at a time.
  
• Add vanilla extract.
  
• Gradually add flour mixture.
  
• Alternate with milk.
  
• Mix until all is well incorporated.
  
• Pour the batter into the bundt pan over the caramel. Set aside.
  

Prepare cream cheese flan.

• In a large bowl mix cream cheese until smooth.
  
• Incorporate eggs one at a time.
  
• Add vanilla extract, sweetened condensed milk and evaporated milk.
  
• Mix well until combined.
  
• Pour the cream cheese mixture over the vanilla cake batter into the bundt pan.
  
• Place the bundt pan into a larger pan, and add boiling water halfway up the sides of the pan.
  
• Bake for 50-60 minutes until a toothpick inserted into the center of the cake comes out clean. If the top starts to golden too fast add aluminum foil on top of the cake and continue baking.
  
• Remove the bundt pan from the oven and from the larger pan and let cool to room temperature. Refrigerate for 4 hours or better overnight.
  
• Before removing the cake from the pan place it again in a larger pan filled with hot water for easier removal.
  
• Invert the cake onto a plate and serve.
  
• Cut into slices and serve.