1. Cut each piece of bacon in half crosswise. Lay them flat on a rimmed baking sheet lined with parchment paper or aluminum foil.
2. In a small mixing bowl, combine the brown sugar, cinnamon, nutmeg, and cloves.
3. Spoon about 1 teaspoon of the brown sugar mixture onto each strip of bacon and gently press to coat.
4. Place a water chestnut on one end of each strip of bacon. Roll the bacon tightly around each water chestnut and secure with a toothpick.
5. Bake at 400° F for 30-40 minutes, flipping halfway through, until bacon is crispy.
6. Drizzle generously with honey before serving.