Bring the pomegranate juice, water and honey to a simmer in a saucepan set over medium-high heat. Add the sugar and stir until it completely dissolves. Remove the pan from the heat and set aside to cool to room temperature.
Pour the syrup into a container and refrigerate it until needed.
Keeps about 2 months in the refrigerator.
Notes
* Recipe can easily be double or tripled - just use a larger pan for heating. * I recommend using POM juice or another bottled pomegranate juice for ease. * Ingredient in Pamplemousse-Grenade Cocktail. * Serve with Prosecco or sparkling wine - add a teaspoon or two to the bubbly wine.