1. 1. Preheat the oven to 350°F (180°C) and grease a round cake pan.

2. 2. In a blender, combine sweetened condensed milk, evaporated milk, vanilla extract, cream cheese, large eggs, cornstarch, baking powder, and coconut extract. Blend until smooth.

3. 3. Pour the mixture into the prepared cake pan.

4. 4. Place the cake pan in a larger baking dish and fill the dish with hot water to create a water bath.

5. 5. Bake for 45-50 minutes until the top is set and a toothpick inserted comes out clean.

6. 6. Remove from the oven and let it cool completely before refrigerating for at least 2 hours.

7. 7. Once chilled, run a knife around the edges of the cake pan and invert the cake onto a serving plate.

8. 8. Slice and serve the Coconut Flan Cake cold.