What does the cryptic crossword clue "Expensive honey (4)" mean?

This cryptic clue uses wordplay to arrive at the answer. Visit the page for progressive hints — definition, wordplay type, and a full step-by-step explanation.

Expensive honey (4)

Telegraph #28512 | 26 Down | 2017-08-22 flower

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Also seen in

Guardian Cryptic #25491 (2011-11-28)