Start by preparing the coconut syrup. Add all ingredients to a small saucepan on low heat and stir with a whisk continuously as it melts down.
Cook on medium-low heat until it starts to bubble, continue to stir, and simmer until reduced and slightly thicker in texture. Be careful not to let it burn!
Divide the syrup between 2 ramekins and then gently swirl each ramekin to ensure the bottom surface is covered. Let sit in the fridge.
To prepare the flan batter, blend all ingredients until completely smooth. Transfer the mixture to a saucepan, stirring constantly and bring to a low bubble, then remove from heat.
Let the mixture cool down for 5-10 minutes (this allows for a more distinct coconut sugar layer. Otherwise, it melts!), then divide between the two ramekins and gently pour on top of the coconut syrup layer.
Tap out any surface bubbles and place in the fridge to set for 5-6 hours or overnight for best results.
Gently run a knife around the edge of the ramekin, place a small plate over the surface, and flip to release. This inverts the flan, and the sweet coconut syrup will be on top (just like the caramel in the classic recipe).