In a saucepan, combine sugar, 1/2 cup water, honey and vanilla. Bring to a boil, stir to dissolve sugar; reduce heat. Simmer, uncovered for 5 minutes.
Combine the cornstarch and 1 tablespoon cold water; add to saucepan. Cook and stir until thickened and bubbling. Cook and stir for 2 additional minutes. Cool Slightly.
Add orange juice and liquid vanilla.
Place fruit and basil in large bowl; pour syrup mixture over fruit, stirring gently. Cover and let stand about 1 hour or until cooled to room temperature or chill several hours, stirring once or twice.
If using bananas, slice and add just before serving.