Heat canola oil in a large saucepan over medium high heat. Cook carrots and onion, stirring occasionally, until carrots are tender and onions are translucent. Do not allow the onions to brown. Add water, and bring to a boil. Cover, and simmer for 15 minutes; set aside to cool.

When mixture is cool enough to process safely, transfer to a blender or food processor. Add soy milk, miso paste, cashews, salt, maple syrup, and Chinese five-spice powder. Blend until smooth. Cover, and refrigerate until ready to use.