Homemade HONEY Lip Balm (with Beeswax and Almond Oil) Recipe. Lip BalmMakes 1-1/2 cups 1 cup sweet almond oil 1/2 cup beeswax 2 Tablespoons honey Place almond oil and beeswax in a microwave-safe bowl. Microwave for 1 minute or until mixture melts. Stir the honey into the almond oil/beeswax mixture. Let it cool somewhat. Pour into small containers (lip balm tubs or tubes).