1. Line bottom and sides of a 9-inch square pan with parchment paper; set aside.

2. Melt butter in a medium heavy-bottomed saucepan over medium-high heat. Add honey, cream, and sugar; stir to combine. Cook, stirring frequently, until mixture comes to a boil.

3. Continue boiling, stirring frequently, until mixture reaches 250 degrees on a candy thermometer, 45 to 60 minutes. Remove from heat and stir in vanilla; pour into prepared pan. Let cool for 1 hour; sprinkle with sea salt. Let cool completely, overnight.

4. Turn caramels out onto a cutting board; remove parchment paper. Using a sharp knife, cut caramels into 1-inch squares; wrap each in wax paper. Caramels will keep in an airtight container, refrigerated, for up to 1 month. Caramels will soften at room temperature or stay firm if kept chilled.