Step 1: Prepare Your Pan - Line a 9x9 inch baking pan with parchment paper, leaving overhang for easy removal.
Step 2: Combine Ingredients - In a heavy-bottomed saucepan, combine butter, honey, brown sugar, and heavy cream. Stir over medium heat until melted.
Step 3: Cook the Caramel - Attach a candy thermometer and bring to a boil without stirring until it reaches 240°F (soft-ball stage).
Step 4: Add Vanilla and Salt - Remove from heat and stir in vanilla extract and salt carefully as the mixture will bubble up.
Step 5: Pour and Cool - Pour the caramel into the prepared pan and cool at room temperature for about 2 hours until set.
Step 6: Cut and Wrap - Once set, lift the caramel out using the parchment and cut into squares. Wrap each piece in wax paper or cellophane.