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Step 1
In a large bowl, mix the flour, baking powder, salt and honey and stir until combined. Add the water and 1 tablespoon olive oil and mix until a dough begins to form. Shape the dough into a disc and cover with a clean kitchen towel. Set aside while you make the toppings.
Step 2
Preheat the oven to 450 degrees F.
Step 3
Heat a large skillet over medium low heat and add the butter. When the butter melts, add the onions and thyme, then season with salt and pepper. Cook, stirring occasionally, for 45 minutes until the onions are a deep brown color.
Step 4
Place a cookie sheet tray in the hot oven for 5 minutes to preheat it. Grease a piece of parchment paper with 1 tablespoon olive oil. Place the dough disc on top and place another piece of parchment on top of that.
Step 5
Roll the dough into a very thin circle, about ⅛ inch thick. Remove the top sheet of parchment and slide the dough onto the preheated baking sheet tray. Drizzle it with remaining olive oil and pierce the dough several times with a fork. Bake for 10 minutes.
Step 6
Remove the crust from the oven. Spread the caramelized onions and top with cheese. Place the pizza back in the oven and broil for an additional 2 minutes until the cheese is melted and bubbly. Cut into squares to serve.