Step 1

Preheat oven to 350°F. Spray a 9-inch round cake pan with oil. In a medium bowl, whisk together flour, baking powder, and salt. In another medium bowl, whisk together 2/3 cup sugar, honey, eggs, melted butter, and milk. Whisk egg mixture into flour mixture until just combined.

Step 2

In a small, heavy saucepan over high heat, combine remaining 2/3 cup sugar and 3 tablespoons water. Cook, swirling pan occasionally (do not stir), until mixture is deep amber, about 5 minutes. Remove from heat; stir in room-temperature butter. Immediately pour into prepared pan.

Step 3

Decoratively arrange layers of apples over caramel filling. Spread batter evenly over apples. Bake until top springs back when lightly touched, 45 to 55 minutes. Loosen edges with a knife. Let stand 5 minutes before inverting onto a serving plate. Serve warm or at room temperature.