Carefully remove the corn from the cob. Turn the knife and with the dull side scrape any juices from the cob.
In a large skillet, melt the butter. Add the corn, cream, sugar, salt and pepper.
Simmer over medium-low for 15-20 minutes until the corn is tender.
Increase the heat. Dissolve the flour in the water and add to the the corn whisking until combined.
Cook for an additional 5 minutes until thickened. If you prefer a thicker cream base repeat. Likewise, to thin the sauce add additional cream.
To thicken without flour, after cooking for 20 minutes, ladle ½ cup of corn into a blender. Add 2 Tbsp of softened butter and ¼ cup cream. Blend until smooth then add back to the skillet. Simmer until the base has thickened.