Add the water and honey to a small pan. Bring to a low simmer, stirring in the honey to mix with the water. See notes below about alternatives to simmering the honey to preserve the nutritional benefits of honey.
Simmer for 10-15 minutes, stirring occasionally. The liquid will reduce and thicken slightly.
Remove from heat and allow to cool for a few minutes. Pour the syrup into a container and store in the fridge for up to a month.
Notes
This recipe uses higher heat and less honey than other recipes you might find. This is in order to reduce the mixture down to a true "syrup-like" thickness. However, if you wish to preserve as much of the nutritional benefits of honey as possible, you can simply heat the water and honey over the lowest heat possible and stir the mixture until the honey dissolves.