Fry a slice of bacon until crispy. Eat on the side and save the bacon fat.
Toss in the onion slices and stir making sure that the fat evenly coats them.
Cover and stir the onions occasionally for 15 minutes. Then stir in the 1/4 cup of water, still cooking covered for 40-45 minutes. Stir the onions every 8-10 minutes to brown beautifully. Make sure that you caramelise your onions and don't burn them.
Add the coconut balsamic vinegar, maple syrup, salt and pepper and continue to cook for another 10 minutes. Your mixture should becoming thick and gooey with very little moisture.
Leave mixture aside to cool and store contents in a tight container in the fridge for up to two weeks. Makes about 1/2 a cup, but this recipe can be easily doubled.