Wash, peel, and chop the sweet potatoes into small ½-inch cubes (see my example above).
Melt the butter in a skillet over medium heat. Then add the white and brown sugar to the skillet. Stir with the melted butter until the sugar starts to melt.
Now add the cubed sweet potatoes to the skillet along with the cinnamon, nutmeg, salt, and vanilla. Then slowly pour in the water.
Gently stir everything together, cover with a lid, and cook the sweet potatoes for 8 minutes. The water and steam will help soften the sweet potatoes.
After 8 minutes remove the lid, stir the sweet potatoes, and continue to cook for 6-8 more minutes uncovered or until most of the water has evaporated, the sweet potatoes are tender, and the sugar starts to caramelize. Serve warm and enjoy!