Bring water to a boil in a tea pot or small pot.
In a medium-size skillet with a lid (a 9-inch diameter is ideal), melt the butter or coconut oil over medium heat, and then stir in the oats. Sauté the oats for 2 minutes or until the oats are lightly toasted and you can smell a nutty aroma. Stir the oats as they toast.
Pour a 1/2 cup of hot water over the oats and stir. (You want just enough water to cover the bottom of the skillet and moisten the oats. If your skillet is larger, you may need an extra couple tablespoons of water.) Add the salt, reduce the heat to a simmer, cover the pan, and cook for 3 to 4 minutes or until the oats have absorbed the water.
Uncover the oats and stir over the low heat, allowing any excess moisture to evaporate and the oats to dry out a bit. Remove the pan from the heat, drizzle with the honey, and toss to evenly distribute.
Transfer the oats to two bowls, add toppings of choice, and enjoy.