In a small saucepan, combine the water, rice vinegar, sugar, honey, and soy sauce. Heat over medium heat, stirring until the sugar is dissolved.
In a small bowl, mix the cornstarch with a few tablespoons of water to create a slurry.
Add the minced garlic, chopped red chilies, and salt to the saucepan. Stir to combine.
Bring the mixture to a simmer and slowly add the cornstarch slurry, stirring constantly to avoid lumps.
Continue to cook the sauce, stirring frequently, until it thickens and reaches the desired consistency, about 5-7 minutes.
Remove the saucepan from the heat and let the sauce cool slightly before transferring it to a clean jar or bottle.
Store the sweet chili sauce in the refrigerator for up to 2 weeks.
