Line a tray with baking paper. Heat oil in a large saucepan over medium heat. Add 2 pieces of popping corn kernals in the saucepan. If corn slowly turns around in a circle then oil is hot enough.
Add remaining popping corn. Cover with a tight fitting lid. When corn starts popping , shake saucepan gently. Remove from heat when corn stops popping. Transfer to a large bowl, discarding any unpopped corn.
To make caramel, combine butter, sugar and honey in a saucepan over medium heat. Cook, stirring for 5 to 7 minutes or until sugar has dissolved. Bring mixture to the boil. Boil, uncovered, without stirring, for 5 to 8 minutes or until light golden.
Remove sauce from heat. Stir in salt. Pour caramel mixture over popcorn and stir until popcorn is coated. Spread over prepared tray. Set aside to cool. Break apart into pieces and serve.