Caramel Sauce

Combine the granulated sugar and water in a heavy-bottomed saucepan over medium heat, stirring gently until the sugar dissolves completely.

Once the sugar has dissolved, stop stirring and allow the mixture to cook undisturbed, swirling the pan occasionally to ensure even heating.

Continue cooking until the syrup turns a deep amber color, watching carefully to prevent burning.

Remove the pan from heat and carefully add the boiling water a little at a time, as the mixture will bubble vigorously.

Add the butter to the caramel mixture and stir continuously until it is fully melted and incorporated.

Return the saucepan to low heat and slowly pour in the evaporated milk, stirring constantly to create a smooth, uniform sauce.

Continue stirring over low heat until the sauce thickens to your desired consistency, then remove from heat.

Stir in the vanilla extract, allow the sauce to cool slightly, then transfer to a jar or serving vessel for use.