The key here is to keep them unlit so you have plenty of time. Do it on midnight when you only have Tim to worry about. When you spawn head towards the well (roughly 45 degrees to your right will take you towards the bridge, cross to the side with the fence and follow it left). Find a new (unlit) candle on the way, trading it for your lit one if you brought it. Take the unlit candle to the well. Now just find two more. It doesn't seem that the candle has to actually be on the well, just near it.