Preheat your oven to 350F and line 12 muffin tins with paper liners.
In a large bowl, whisk together the milk, vegetable oil, honey, eggs, and vanilla.
Next add the sugar and whisk to combine.
Add the flour and baking powder. Mix just until no large lumps of flour remain.
Divide the cake batter between the muffin tins, filling each one ⅔ of the way full.
Bake for 15-17 minutes, or until a toothpick inserted into the center comes out clean.
Remove the cupcakes to a wire rack and cool completely before making the buttercream.
For the Icing
Add the softened butter and honey to the bowl of a stand mixer fitted with the paddle attachment. Beat on medium speed until well combined, about 30 seconds.
With the mixer on low speed, slowly add the powdered sugar and vanilla.
Turn the mixer to high speed and beat for 1-2 minutes, or until the frosting is light and fluffy.
Transfer the buttercream to a piping bag fitted with your choice of tip and frost the cupcakes as desired.