Put the honey and water into a medium saucepan. Add the rhubarb and strawberries and stir a couple of times.
Set the pot over medium-high heat and stir the fruit and liquid from time to time. When the liquid comes to a full boil, adjust the heat until it simmers. Continue to cook, stirring occasionally, until the rhubarb is soft enough to easily mash with a fork. Taste and add more honey, if desired. The compote will thicken a bit as it cools, but if you'd like it thicker, you can turn the heat to high and let a bit of the liquid cook off for a minute or so.
Transfer to a glass jar or other container and store in the fridge. It will keep for up to about 2 weeks.
1 pint of strawberries is the size in the traditional green basket. It's about 3/4 of a pound and measures roughly 2 level cups once cut. Precision isn't essential here.