Add butter, sugars, milk, and honey to a 2.5-quart saucepan (see note).
Bring to a rolling boil (see note) and boil for 2 minutes.
Off heat, add baking soda and maple extract.
Whisk to mix together, the syrup will bubble and foam vigorously.
Let rest for a few minutes to let the foam settle down.
Serve warm or cold.
Store in an airtight container (like a mason jar) in the fridge, reheating and stirring before use to melt and combine.
A 2.5 quart saucepan is the smallest size you will want to use for this recipe. It will bubble and foam up quite a bit once the baking soda is added.A rolling boil is a boil that does not break even when you stir the liquid. It will take about 5 minutes to get the mixture to a rolling boil. I set a timer for the 2 minute boil step.