Step 1

Add guava, honey and water to a large saucepan and heat over medium high heat to a boil.  Reduce heat to a simmer and cook guava for 10 minutes, stirring occasionally, and skimming the surface with a spoon to remove any scum.

Step 2

Transfer the guava mixture to a blender and pulse on a low speed until pureed -- but the seeds are still whole (that's why you need the low speed - you don't want to puree the hard seeds)

Step 3

Pour the guava puree into a mesh sieve set over a bowl or large measuring cup and stir with a wooden spoon so that the liquid passes through the strainer into the bowl and any pulp and seeds remain in the sieve.  Discard the seeds and pulp.  Stir in the lime juice.

Step 4

Use the puree in smoothies, cocktails, as a mix in to yogurt, spread on toast, etc.  Store in an airtight container in the refrigerator 3-4 days.