Step one
Preheat the oven to 350°F.
Step two
Mix the two milks, the eggs, pumpkin puree, vanilla extract, nutmeg, cinnamon and salt in a blender until smooth. Set aside.
Step three
Cook the sugar and water in a saucepan over medium-low heat, stirring until the sugar is dissolved. Increase heat to medium-high and boil without stirring until it becomes a light amber color.
Step four
Pour the caramel quickly into a flan mold or individual cups, rotating so that the bottom and sides are coated.
Step five
Pour the custard mixture into the mold and set it into a roasting pan. Pour boiling water into the roasting pan until it comes halfway up the sides of the flan mold.
Step six
Cook for about 50 minutes or until firm.
Step seven
Remove from the oven, allow to cool, and place flan mold in the refrigerator for at least 8 hours or overnight. Before inverting onto a serving plate, run a sharp knife around the rim of the mold.