PREHEAT oven to 350° F.
PLACE sugar in small, heavy-duty saucepan. Cook over medium-high heat, stirring constantly, for 3 to 4 minutes or until sugar is dissolved and golden. Quickly pour into eight 6-ounce ramekins or custard cups.
PLACE nectar, sweetened condensed milk, cream cheese and vanilla extract in blender or food processor; cover. Blend until smooth. Add eggs; blend until smooth. Pour into prepared cups. Divide cups between two 13 x 9-inch baking pans; fill pans with hot water to 1-inch depths.
BAKE for 35 to 45 minutes or until knife inserted in centers comes out clean. Remove to wire rack to cool for 30 minutes; refrigerate for several hours or overnight.
RUN small spatula around edges of cups; gently shake flans to loosen. Invert onto serving dishes.