Have all ingredients measured and ready. Line an 8x8 or 9x9 baking pan with parchment paper so it extends about 1 inch on all sides; lightly spray the parchment with cooking spray and set the pan aside.

Lightly spray a 3‑quart pot with cooking spray. Add the 1/2 cup butter and melt over medium‑high heat.

Add the 1 cup honey, 1 cup heavy cream and 1/2 cup brown sugar to the melted butter. Whisk gently to combine.

Reduce the heat to just above medium. Attach a candy thermometer to the side of the pot with the thermometer probe positioned in the mixture but not touching the bottom.

Bring the mixture to a boil, stirring occasionally to prevent sticking. Once it begins to boil, reduce the heat to just below medium to maintain a gentle simmer.

Simmer, stirring gently and scraping the sides and bottom as needed, until the mixture reaches 250°F on the candy thermometer (this will take about 30–40 minutes). Watch carefully to avoid scorching.

Remove the pot from the heat. If you want a sprinkle of salt on top, reserve a small pinch from the 1/2 teaspoon salt now; then add the remaining salt and the 1/2 teaspoon vanilla extract to the hot caramel and stir gently until fully combined.

Carefully pour the caramel into the prepared pan and spread it evenly. Let the caramel cool to room temperature.

If you reserved a pinch of salt for topping, sprinkle it evenly over the cooled caramel.

Refrigerate the caramel for at least 3 hours, until firm. Lift the caramel from the pan using the parchment overhang and cut into small pieces. Wrap pieces in wax paper and store in the refrigerator.