To make the Caramel Sauce:

1. Place a pot on the stove top. Bring the water and sugar to a boil over medium-high heat until amber colored. Remove pot from the heat and let cool briefly.

2. Carefully whisk the butter and cream into the caramel. Then, add the salt and vanilla and stir.

To make Bread Pudding:

1. Place a large pan on the stove top. Add the cream and milk and bring to a bare simmer over low heat.

2. Remove the saucepan from the heat and add the chocolate chips. Leave the saucepan undisturbed for 1-2 minutes and then whisk until the chocolate is completely melted.

3. Combine the eggs, sugar, vanilla, and salt in a large bowl and whisk. Add the chocolate mixture and stir until incorporated. Soak the bread and macadamia nuts in the mixture for 15 minutes.

4. Butter a 1.5 quart round baking dish. Spoon the mixture into the dish and drizzle the remaining butter over the mixture.

5. Slide the Pizza Rack into Shelf Position 5. Tightly cover the dish with foil and place the dish on the Pizza Rack.

6. Rotate the Program Selection Knob to the Bake setting. Rotate the Temperature Control Knob to 335 degrees F/168 degrees C and the Time Control Knob to 1 hour. Press the Start/Pause Button to begin the cooking cycle. When the timer reaches 15 minutes, uncover the bread pudding.

7. When the pudding is done cooking, remove the dish. Let cool slightly. Cool the bread pudding briefly, then serve in small bowls, drizzled with the caramel sauce and topped with a dollop of whipped cream.