Heat 1/2 cup of honey in a small saucepan over medium high heat. Once the honey starts to simmer and foam reduce the heat to low. Let the honey cook over low heat, stirring constantly for another 2-3 minutes, or until the honey turns a deep golden brown. Remove from heat and immediately add 1/3 cup water and stir to combine. Let the mixture cool. This should keep refrigerated for up to a month.
For the Burnt Honey Bourbon Sour:
Shake all ingredients together with ice, then fine strain over a rocks glass filled with ice.