There are plenty of DIY recipes of using a combination of products to create the best honing oil. If you want to keep it simple then just use mineral oil.
Honing Oil Substitute
You’ll find every imaginable oil mentioned under the sun as a good substitute for honing oil.
Here are the considerations when it comes to finding a substitute for products claiming to be specifically formulated for honing.
Viscosity - how thick is the oil
Rancidity - will the oil go bad and smell rancid?
Price - What are you willing to pay?
Availability - Can you buy it easily where you are located?
Clogging Stone pores - Will it clog the pores of your sharpening stone?
Smell - Any natural smell that is not desirable
Considering all of the above items the best honing oil is just plain old mineral oil. If you don’t have access or don’t want to use it for whatever reason here are all of the alternatives people have used over the years.
I’m not going to break down all of the pros and cons, but keep all of the above considerations in mind when choosing. Some swear by these alternatives and others avoid them like the plague.