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Preheat oven to 400°.
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Bring the water to a boil in a large saucepan; add onions. Cook 3 minutes or until tender; drain.
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Place onions in a 13 x 9-inch baking dish coated with cooking spray.
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Combine vinegar, honey, salt, and pepper. Pour vinegar mixture over onions.
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Bake at 400° for 1 hour and 15 minutes or until golden brown, stirring occasionally.