Preheat your oven to 325°F and position the rack to the middle. While it heats, grease a 9x5 inch loaf pan thoroughly with butter or cooking spray, making sure to coat the bottom and all sides evenly. This prevents sticking and ensures even browning.
In a large mixing bowl, mash the very ripe bananas with a fork until mostly smooth with just a few small lumps remaining—this texture adds character to the bread. Add the honey, milk, egg (at room temperature for proper mixing), canola oil, and vanilla extract to the mashed bananas. Whisk everything together until well combined and smooth. I find that room temperature eggs blend more seamlessly into the batter, creating a more uniform crumb structure.
In a separate bowl, whisk together the flour, baking powder, baking soda, and salt. This aerates the dry ingredients and distributes the leavening agents evenly. Pour the wet ingredient mixture from Step 2 into the dry ingredients and gently fold together with a spatula or wooden spoon until just combined—stop as soon as no flour streaks remain. Overmixing develops gluten and can make the bread dense, so restraint here pays off with a tender crumb.
Pour the batter from Step 3 into the prepared pan from Step 1, smoothing the top gently. Bake for 55 to 70 minutes, depending on your oven—the bread is done when a toothpick inserted into the center comes out with just a few moist crumbs (not wet batter). I like to start checking around the 55-minute mark, as every oven bakes differently, and you want the exterior golden brown without the inside drying out.
Remove the bread from the oven and let it cool in the pan for 10 minutes—this allows the structure to set enough to handle safely. Run a thin knife around the edges to loosen the bread from the sides, then turn it out onto a wire cooling rack. Let it cool completely before slicing to allow the interior to finish setting and prevent crumbling.