Place the cranberries, water, sugar and honey in a medium-size pot over medium heat. Cook, stirring occasionally, until mixture starts to boil.
Cook for 6 minutes, maintaining a steady boil, but watch carefully that sauce does not bubble up over the top of the pan. Stir frequently during this 6 minute cooking time.
Remove from heat and allow to cool for about 30 minutes then add ginger, lemongrass and stir well to combine. Add pomegranate arils (seeds) and gently stir. May be be prepared 1-2 days in advance. To keep the sauce really pretty, store pomegranate arils separately and add them just before serving. Garnish with chopped parsley or cilantro, if desired.
Makes about 2 ½ cups of sauce.
Notes
You can purchase pomegranate arils on their own but they're quite pricey. I used to be intimidated by pomegranates until I discovered a really easy technique for deseeding them.