Remove the butter from the refrigerator in the morning and bring to room temperature.
Later, in a small sauce pan, heat the honey and add in the cranberries.
Simmer these two together for about 10-15 minutes on low. Make sure to stir constantly to keep things from burning. You don't want to have whole berries at the end of this process so smash them as you go and mix them thoroughly with the butter.
Let the cranberry mixture cool.
Once the cranberries are cool, combine the butter, cranberries and powdered sugar.
Using the whisk attachment for a hand mixer, whip the butter until it is smooth.