The most common and most likely answer to this crossword clue is the 8 letter word SHARPENS
I've seen this crossword clue in The Daily Telegraph
S
H
A
R
P
E
N
S
Buddy explains!
The straight part
We know that "Hones" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case hones = sharpens.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does SHARPENS mean?
SHARPENS verb- (sometimes figurative) To make sharp.
- To become sharp.