Reduce Juice: Pour 4 cups of pomegranate juice into a large saucepan and boil over medium-high heat. Reduce to a simmer and cook for about 1 hour until it thickens to approximately ½ cup.

Prepare Mixture: Combine reduced pomegranate juice with butter, granulated sugar, light brown sugar in a heavy saucepan. Stir in heavy whipping cream over medium-low heat until smooth.

Cook Caramel: Increase the heat to medium, stirring constantly until it reaches 255-260°F using a candy thermometer.

Add Extras: Once at temperature, remove from heat and stir in vanilla and a pinch of flaky sea salt. Optionally, add red food coloring.

Set Caramel: Pour the mixture into a greased loaf pan lined with parchment paper. Refrigerate uncovered for about 2 hours to set.

Cut & Wrap: After chilling, slice the caramels into pieces and wrap each in wax paper. Store in an airtight container.