1. Place popcorn in a large bowl. Lightly coat a rimmed baking sheet with cooking spray. In a small saucepan, combine sugar, honey, 2 tablespoons water, and a pinch of salt. Bring to a boil, then reduce heat to medium-high and cook, swirling occasionally but not stirring, until sugar is dissolved and mixture is deep amber in color, 7 minutes. Remove from heat; stir in butter, sesame oil, and baking soda (mixture will bubble up).

2. Quickly drizzle caramel over popcorn; toss to coat. Sprinkle with sesame seeds and 1/4 teaspoon salt (or more to taste). Spread popcorn out on baking sheet and let cool completely, then break into pieces and serve.