This doesn't have the wonderful gaminess of real honey, but is a good substitute. I suggest making Simple Syrup with bulk Splenda.

Dissolve bulk Splenda in a ratio of 2:1 in boiling water on top of the stove. (For example; 2 cups of bulk Splenda to 1 cup of water.) Reduce slightly for thicker consistency. Let cool completely before use.

This can be stored indefinitely in the refrigerator.

I use this for my favorite eastern marinade: equal parts Splenda Simple Syrup, Soy sauce and wasabi powder with sesame oil to taste.