In a dry, large deep heavy skillet cook the sugar over moderately high heat, stirring constantly with a heat proof rubber spatula until the sugar is melted and turns a deep golden caramel, remove the skillet from the heat and let cool 5 minutes. Add the, honey, coconut milk and chunks of butter one by one, whisk until combined. The caramel will bubble, this is ok. Return the pot to the heat and, cook the mixture over moderate heat, stirring until the caramel has thickened, about 3-5 minutes. Remove from the heat, add the vanilla. Set the caramel aside to cool.