Preheat your oven to 325 degrees. Grease an 8X8 baking dish, set aside.
Whisk all cake ingredients together, then pour into your baking dish. Bake for 30 minutes, or until done in the center. The cake will be spongy feeling, but should not giggle in the middle.
The cake is going to look very golden brown, that is what you want! That means the honey has caramelized!
For the frosting, combine all ingredients except for the vanilla extract. Bring to a boil over medium heat, boil for 1 minute.
Take the frosting off the heat, add the vanilla extract, stir well.
Pour frosting over warm cake. The frosting is going to be very runny, however, when it cools it's going to become a thick fudge!