Combine all ingredients in a small sauce pan and whisk together.
Bring ingredients to a low boil then reduce heat to a simmer for 20-25 minutes or until it thickens. Continue to stir to prevent it from burning and keep a close eye on it. The sauce will start to boil more vigorously when it is close to being done. You will know it is finished when it has reduced to about 1/2 cup and has a viscosity similar to that of maple syrup.
This recipe yields about 1/2 cup of sauce. If you need more, double the recipe.