Panna Cotta: Bring the cream, Kahlua and sugar to a boil in a medium sized pot.

In the mean time add the water to a large bowl and sprinkle on the gelatin and let stand for 5 minutes.

Once the cream mixture is boiling remove it from the heat and slowly whisk it into the water and gelatin mixture until it is completely combined.

Divide the mixture amongst 8 4 ounces ramekins and cover and chill for at least 4 hours.

Caramel: In a medium sized pot add in the butter and sugar and cook until the sugar turns dark brown and is combined with the butter. Whisk in the cream and cook until it becomes thick.

To serve, pour the caramel over the set panna cotta.