Warm the heavy cream gently on the stovetop or in the microwave until hot but not boiling. Set aside and keep warm. Alternately heat in the microwave for 15-30 seconds.
Have your room temperature butter, salt, and vanilla extract measured and ready.
Add water to a large, clear microwave-safe bowl with high sides first.
Slowly pour the sugar into the center of the water. Do NOT stir.
Place bowl directly in the microwave on HIGH for 1 minute.
Continue microwaving in 30-second intervals until you’re past the 2-minute mark, checking after each interval.
Once past 2 minutes, switch to 15-second intervals and check carefully after each one.
Stop immediately when the mixture turns honey-gold in color, approximately 2-3 minutes total microwave time.
Using oven mitts, carefully remove the bowl from the microwave and place on a heat-safe surface.
Let it rest for about 1 minute without touching it. The caramel will darken to amber-brown from the residual heat.
Slowly whisk in the warm cream, about 1 tablespoon at a time. The mixture will bubble vigorously.
Once cream is fully incorporated, add the butter and whisk until completely melted and smooth.
Whisk in the salt and vanilla extract until smooth.
Let cool for a few minutes to thicken to drizzling consistency.