Preheat the oven to 350°F. Lightly grease a standard muffin or cupcake pan.
For the cake, in a large bowl, cream the butter and sugar together until smooth and pale.
Add the eggs, and beat well. Stir in the banana, honey, buttermilk, and vanilla. The mixture may look lumpy.
In a medium bowl, whisk together the flour, baking powder, baking soda, salt, cinnamon, and nutmeg. Make sure everything is lump free and well combined.
Add half of the dry ingredients to the banana mixture and mix until combined. Scrape the bowl and add the remaining dry ingredients. Mix until the batter is combined, scraping the bowl and mix at medium speed for 30 - 45 seconds.
Scoop the batter into the prepared pan, filling the wells ¾ full; an ice cream scoop works well here. Don't overfill or the cupcakes will spread on the top of the muffin pan. Bake for 24 to 27 minutes, until a toothpick inserted into the center of one comes out clean or with a few moist crumbs on it.
Remove the cupcakes from the oven, and place the pan on a wire cooling rack. As soon as you're able, about 2 - 3 mintues after you take them out, tilt the cupcakes in the wells of the pan; this prevents their bottoms from steaming and falling apart.
When the cupcakes are completely cool, make the frosting.