Step 1

Arrange two racks to divide the oven into thirds and heat the oven to 250℉. Line 2 rimmed baking sheets with parchment or aluminum foil.

Step 2

Place 3 of the popcorn kernels and 1 tablespoons vegetable oil in a 4-quart or larger heavy pot over medium heat. When the kernels pop, add the remaining kernels to the pan, shake to coat with oil, and cover. Pop the corn, shaking the pan occasionally, until the popping slows. Immediately transfer to a large heatproof bowl.

Step 3

Melt 1 1/2 sticks unsalted butter in a 2-quart saucepan over medium heat. Add 3/4 cup honey and increase the heat to medium-high. Bring to a rolling boil and cook for 4 minutes, stirring constantly with a heatproof spatula or wooden spoon as the mixture foams. Remove the pan from the heat.

Step 4

Add the Sriracha (2 tablespoons for mild; 3 tablespoons for spicy), 1 teaspoon kosher salt, 1 teaspoon vanilla extract, and 1/4 teaspoon baking soda and stir to combine; the syrup will bubble and foam.

Step 5

Pour the hot syrup over the popcorn immediately, stirring the popcorn as you slowly pour. Once you’ve poured all the syrup over the popcorn, continue stirring until the popcorn is evenly coated. Divide the popcorn between the baking sheets and spread into an even layer.

Step 6

Bake for 1 hour, stirring the popcorn every 15 minutes. The finished popcorn will be a slightly darker shade, and will turn dry and crunchy once completely cooled.

Step 7

Wait a few minutes until the popcorn is cool enough to handle and then quickly press it into clusters with your hands. If the popcorn cools too much and won’t stick, put the sheets back in the oven for a few minutes until the popcorn is warm again. (The popcorn can also be cooled as is, without clustering, and eaten by the handful like regular popcorn.) Let the clusters cool completely.