Honoka is mostly fine, she has a lot of tools both offensively and defensively. The real problem I have while playing as her, as I've said in other threads, is that I have no control over most of her stance transitions. Sometimes I wanna use Dragon Stance or Bokuho or Kokoro's one and I can't because the move was blocked or whiffed, same on the contrary, sometimes I throw PPP and just don't react quickly enough to whether she ends up in Dragon Stance or not. It's annoying because I feel I have no freedom over what she can do in some situations, which doesn't happen to other stance-based characters like Helena, Rig or Ryu.
Still, I think she has tons of potential, I complained a lot about her poor damage in short combos (stun>launch>juggle) until I discovered a several things that connect by watching videos here. She also has a lot of plus-on-guard moves and the 6T punish throw is pretty good imo. Don't overlook her, I believe that in the coming months we'll see a lot of development for the character via patch.