Using the bowl of a stand mixer (see notes for hand mixer method) add 1/4 cup of water to the base, and then sprinkle over 1 tbsp of gelatin. Set aside to allow to harden. Add the whisk attachment to the stand mixer for later.
Using a medium stainless steel pot, combine 1/2 cup of water with 1 cup of honey. Set the pot over medium-high heat and heat until it reaches 240 F (use a candy thermometer to check the temperature).
Close the stand mixer and slowly (and carefully) pour the water and honey mixture into the stand mixer as you increase the speed to high speed. Whip the mixture for 7-8 minutes.
Add the vanilla extract and sifted matcha powder. Whip for another 2-3 minutes or so, or until the mixture is thick like marshmallow fluff!
Spoon the fluff into a large glass container. Store in a cool dry place for up to two weeks, and enjoy as a dip for fruit, graham crackers, in whoopie pies, or over a matcha latte!