Whisk the cocoa and melted coconut oil together in a dry stainless-steel or enameled saucepan until smooth, with no dry cocoa islands or pale oil streaks.
Add the raw honey and whisk until fully incorporated, with no amber honey streak or oily ring.
Warm over medium heat for about 2 minutes, whisking continuously. Stop when the sauce is warm, uniformly glossy and pourable and a broad whisk trail nearly settles flat. Do not simmer.
Transfer to a supported glass pitcher or ceramic sauce boat and serve warm.