In a saucepan over medium heat, add the sugar and stir occasionally until it melts and turns into a rich, amber-colored caramel.
Carefully add the water to the caramelized sugar (be cautious, as it may splatter). Stir until the sugar completely dissolves into a smooth syrup.
Pour the caramel into the bottom of a 22 cm (about 9 inches) pudding mold, ensuring it covers the bottom and slightly up the sides. Set aside.
Prepare the Pudding Mixture:
In a blender, combine the sweetened condensed milk, heavy cream, coconut milk, whole milk, and eggs.
Blend the mixture until it is smooth and all the ingredients are well combined.
Pour and Bake:
Pour the blended mixture into the caramel-coated pudding mold.
Cover the mold with aluminum foil.
Place the mold into a larger baking dish and fill the dish with boiling water, creating a bain-marie (water bath).
Transfer to a preheated oven at 180°C (350°F) and bake for about 1 hour and 30 minutes, or until the pudding is set and a toothpick inserted in the center comes out clean.
Cool and Serve:
Once baked, remove the pudding from the oven and allow it to cool completely.
Once cool, refrigerate the pudding for at least 4 hours or overnight to set fully.
To unmold, gently run a knife around the edges, place a serving plate over the mold, and invert the pudding onto the plate.
