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Preheat waffle iron. A Belgium waffle iron is ideal for this recipe, but an American waffle iron will work as well.
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Cut hot dogs in half lengthwise, and then divide each slice in half again (along the shorter length). The goal is to divide one hot dog into 4 short slices that are roughly the size of your thumb. Take the 12 skewers and cut in half. Each stick should be at least 4 inches long. Carefully insert the small skewers about ⅔ of the way into each hot dog slice. Dredge the skewered hot dogs in the cornstarch in preparation for dipping. Shake off, or gently wipe away, any excess cornstarch. This step is essential for the batter to stick properly to the meat.
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Set aside the skewered and dredged hot dogs while you prepare the batter.
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In a medium sized mixing bowl, add the cornstarch, flour, salt, and baking powder. Mix thoroughly to eliminate lumps. Separately, in a small bowl, mix together the egg, honey, buttermilk, and melted butter. Pour the wet ingredients into the dry ingredients and mix together. If the batter is too thick for dipping, add a few more splashes of buttermilk (mixing in a little at a time). If the batter is too thin, add a little extra flour to the mixture (1 teaspoon at time, until you achieve the proper texture). You want the batter to have a porridge-like texture—smooth yet thick.
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Fill ⅔ of a tall drinking glass with the mixed batter. Be sure to leave enough room in the glass to avoid overflowing. Pour in more batter as the level gets lower.
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Before dipping the hot dogs, brush the melted butter onto the surface of your waffle iron—both top and bottom sides.
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Next take the skewered hot dogs and dip them into the tall glass. Fully submerge and cover the surface of the meat. Shake off any excess batter, or let it drip off slowly. Note: If your glass is wide enough, you can dip 2-3 at a time to speed up the cooking process.
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One at a time, place the dipped hot dogs onto the hot waffle iron. If you have a smaller waffle iron, you can have the sticks poking outward. Otherwise, you can have the sticks inside the waffle iron, within an open crevice. Warning: the sticks do get hot, so handle them carefully and use tongs for lifting them out of the waffle iron.
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Cook the corn dogs, 5-7 minutes, in small batches (4-6 per batch, depending on the size of your waffle iron). You want a golden brown color on the exterior. For this recipe, it’s totally fine to take a peek and lift the waffle iron lid during the cooking process to make sure you’re not overcooking them.
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When fully cooked and golden brown, carefully remove the waffled corn dogs and place onto a serving platter or tray for cooling.
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Mix together the dipping sauces into three individual bowls and serve together with your platter of waffle corn dogs. Serve warm or at room temperature.