Is it possible to update Samsung s5300 to Honeycomb? I've only found that it can't be updated to Android 4.0.
Honeycomb was actually meant for devices with large screens like tablets etc.., There is no Official update for S5300. So you'll have to root your phone and install a custom ROM(such as CyanogenMod) on your phone. Keep in mind that rooting your phone will void your phone of any warranty. Also beware that any error made while flashing ROM could brick your phone and make it unusable.