Preheat oven to 350° F.

Combine sugar and water in a medium pan and heat over medium heat. Bring water and sugar to a boil and swirl pan by the handle; do not stir.  Remove from heat as soon as caramel mixture turns amber in color.

Pour caramel into 10-inch mold.  Carefully swirl mold to evenly coat bottom.  Set aside.

Place eggs, milks, vanilla, Rompope and cream cheese in blender.  Blend until all ingredients have mixed thoroughly.

Place mold in a large roasting pan.  Pour mixture into mold.  Add boiling water to roasting pan, filing approximately halfway.

Carefully place roasting pan with mold in the oven and bake for 60-65 minutes.  Remove from heat and let cool in roasting pan with water.

Remove mold from roasting pan, cover with aluminum foil and refrigerate 4 hours to overnight.

Run a small knife around flan edges.  Gently shake mold to loosen flan. Place a large plate over mold and quickly turn upside down for flan to drop onto the plate.

Slice, garnish with maraschino cherries and whipped cream.  Serve.