Place the cherries, honey, water, vanilla seeds and bean in a saucepan and place over a medium heat. Bring to a simmer and reduce to low and cook until the cherries soften and the syrup begins to thicken. Set aside to cool completely.
Combine the cream, milk, coconut milk and honey in a saucepan over a medium heat. Bring to the verge of boiling and remove from the heat and set aside to cool before refrigerating until cold.
Remove the vanilla bean from the cherry mixture and process the cherries in a food processor until roughly chopped. Remove the milk and cream mixture from the refrigerator and stir the cherry mixture through. Add the vodka and stir through as this will help prevent the mixture from freezing completely and make for a softer ice cream straight from the freezer. Pour into your ice cream maker and churn according to the manufacturers instructions. Remove the mixture from the ice cream maker and freeze in a resealable container. Freeze for 3 to 4 hours before serving.