In a medium saucepan, add sweetener and water over medium-high heat whisking until sweetener is dissolved.

Once mixture reaches a boil, only whisk every so often and watch closely until it reaches brown, amber-color (~8-12 minutes). Once reaching desired color, immediately add butter and whisk until melted and then immediately remove from heat.

Slowly and carefully add in cream and whisk to combine until evenly combined.

Add extract and salt, to taste.

Transfer caramel to glass or heat-safe container until cooled. Once completely cool, store covered in refrigerator (sauce will thicken while cooling and refrigerating).