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Preheat the oven to 350 degrees F. Line a standard 12-cup muffin tin with paper liners or grease well with nonstick cooking spray (this batch makes about 14-16 muffins - so you'll want a second muffin tin with a few cups lined or will need to bake a second batch).
In a medium bowl, whisk together the flour, baking powder, baking soda, salt and nutmeg.
In a large bowl, whisk together the mashed bananas, honey, coconut oil, egg, vanilla, peanut butter and milk. Mix until well combined.
Add the dry ingredients to the wet mixture and stir until just combined. Don't overmix! It's ok if it's a little lumpy and there are a few, wispy dry streaks here and there (no large clumps of flour, though).
Scoop the batter into the muffin liners. I use my #20 cookie scoop (about 3 heaping tablespoons of batter) for each muffin cup. You'll have extra batter for a smaller second batch (or use a second muffin tin) unless you really want to pile the batter into the cups for 12 extra tall muffins.
Bake for 17-18 minutes until the top springs back lightly to the touch and a toothpick inserted in the center of a muffin comes out clean (increase the baking time as needed since ovens vary in temperature, just take care not to overbake).
Remove the muffins from the tin and cool completely on a wire rack (bake any remaining batter into muffins). Once cool, store well-covered at room temperature for a couple days.