Over medium-high heat, melt butter, coconut palm sugar, coconut cream, and honey. Stir constantly until mixture reaches a boil and sugar is completely dissolved.
Remove from heat. Stir in ½ tsp. vanilla and a pinch of salt. Allow to cool. Store covered in the fridge for up to 5 days. Stir well before serving. Makes approximately ½ cup.
Notes
For coconut cream place full fat canned coconut milk in the fridge for 24 hours and scoop out the coagulated cream. I only recommend the Thai Kitchen, Native Forest or Sprouts brand. Other brands may leave a funny aftertaste, but these are 3 brands I've tested and know have a good taste.
I highly recommend using butter, ghee, or non-dairy butter for best taste. If butter isn't an option though, you can use non-hydrogenated shortening as a substitute.
The caramel may seem thin at first but will thicken in the fridge.