Make the pancakes: In a large bowl, combine the apples, egg, melted butter, and molasses. Stir in the milk.
In another bowl, whisk together the baking soda, baking powder, salt, and flour.
With a whisk or dinner fork, stir the dry ingredients into the wet until just combined. Don't overdo it! There should be some lumps.
In a large, heavy-bottomed skillet, melt 1 tablespoon butter over medium-low heat. Swirl the butter around the pan, entirely covering it. Using a 1/4-cup measuring cup, pour 3 portions of batter into the skillet. Cook for 3 or 4 minutes, or until broken bubbles appear. Use a metal spatula to turn the cakes and cook for another 1 1/2 to 2 minutes, or until a crisp surface is achieved. Keep the pancakes warm on a platter in a preheated 200 degrees F oven while repeating to cook the remaining batter.
Make the butter: In a small saucepan, melt the butter with the honey over very low heat. Serve the pancakes and honey butter hot.
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Recipe courtesy of Chonicle Books, The Nantucket Holiday Table by Susan Simon. Image courtesy of Jeffrey Allen.
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