Place chiles in a bowl and cover with boiling water; let sit until soft, at least 30 minutes.
Remove the chiles from the liquid, reserving the liquid, and coarsely chop
. Place the chiles in the bowl of a food processor
along with 1/4 cup of the soaking liquid, honey, cilantro, garlic and pine nuts
and process until smooth. With the motor running, slowly add the oil until emulsified; season with salt and pepper.