Yes, "honey" is often used as a romantic term.
"Honey" functions as an affectionate or familiar term of address, typically used for a romantic partner or loved one. It falls into the same category as "sweetheart," "darling," and "dear." The reference confirms it's used to express love or deep affection.
However, it's crucial to note the context. While often romantic, the reference also points out that using "honey" with strangers, casual acquaintances, or subordinates can be perceived as offensive, particularly when used by a male addressing a female. The romantic connotation primarily applies within established, loving relationships.
In summary, while "honey" certainly can be a romantic term, its appropriateness depends entirely on the relationship between the speakers.