Combine the honey, water, ketchup, and apple cider vinegar in a medium saucepan. Stir these ingredients well until they are fully mixed.
Add The Spices
Introduce the ground chipotle powder, garlic powder, onion powder, salt, and black pepper to the saucepan.
Whisk the ingredients together to ensure that the spices are evenly distributed throughout the mixture.
Simmer The Sauce
Place the saucepan over medium heat. Allow the sauce to come to a gentle simmer, stirring frequently to prevent any ingredients from sticking to the bottom of the pan.
Simmer until the sauce thickens to the desired consistency, about 10 minutes.
Cool And Serve
Take the saucepan off of the burner after the sauce has thickened. Let the sauce cool slightly before serving.