Step 1

Preheat oven to 350°F. Line a high-sided 9-inch round cake pan with parchment paper cut to fit, then grease with cooking spray.

Step 2

Line the bottom of the prepared pan with apple wedges, arranging them in concentric circles, then shingle any remaining slices in the center.

Step 3

In a medium saucepan, combine the granulated sugar with 3 tablespoons of water. Cook over medium-high heat, shaking the pan as needed, until an amber caramel forms, about 6 to 8 minutes. Immediately pour the caramel over the apples in an even layer.

Step 4

In another medium saucepan, melt the butter over medium heat. Cook, stirring continuously, until browned and nutty in aroma, 6 to 8 minutes. Pour the melted butter into a heatproof large bowl, let cool slightly, then whisk in the honey, buttermilk, eggs, brown sugar, and vanilla until smooth.

Step 5

In a medium bowl, whisk together the flour, salt, cinnamon, nutmeg, baking powder, and baking soda to combine. Add the dry ingredients to the wet ingredients, then fold until just incorporated.

Step 6

Pour the batter over the caramel-coated apples. Bake for 1 hour to 1 hour and 10 minutes, until the top is golden and a toothpick inserted into the center comes out clean.

Step 7

Let cool in the pan for 15 minutes, then run a paring knife around the edge of the cake. Place a plate over the cake pan, invert them together, then lift off the pan and remove the parchment paper.

Step 8

Top with whipped cream and drizzle with more honey if desired.