Mix peanuts, sugar, and water. Cook over moderate heat stirring constantly until liquid crystallizes.

Continue to stir until sugar dries and crystallizes.

Lower heat. Continue stirring until sugar coats peanuts.

Turn off heat. Sprinkle with sea salt. Remove peanuts and transfer to a baking sheet. Allow to cool.

Store the caramelized peanuts in an airtight container. This candy is good for up to one week.