Add all ingredients to a large microwave safe bowl. (The mixture will bubble up quite high, so make sure its really big)
Microwave for 2 minutes, then stir till smooth.
Microwave for 2 minutes, and stir again.
Microwave for another 2 minutes, and stir till completely smooth.
Test if the mixture is done by dropping a small bit into a bowl of ice water. Remove it from the water and the caramel should be a small pliable ball. If it is too soft microwave for another 30 seconds to a minute till its right.
Pour mixture into a greased 8x8 or 9x9 square pan (or line with parchment for extra easy removal)
Allow caramel to sit until completely cooled. (Place in the fridge to cool quicker - about 20 to 30 minutes)
Remove from pan and cut into squares. Wrap in wax paper or store in airtight container.