Make Brown Butter: Heat a stick of butter over medium-low heat until the milk fats brown. Set aside to solidify.
Prepare Caramel Sauce: Boil ½ cup water and 1 cup sugar in a saucepan. Add 1 cup heated heavy cream gradually. Flavor with vanilla extract and cool at room temperature.
Prepare Waffle Batter: Combine flour, cornmeal, baking powder, and salt. Whisk egg yolks with buttermilk and brown butter. Mix wet ingredients with dry. Whip egg whites to stiff peaks and fold into batter.
Cook Waffles: Spray waffle iron with nonstick spray. Pour batter, cook until golden. Serve with brown butter, caramel sauce, and smoked sea salt.
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