ALWAYS break the hive with ranged attacks. If you choose to melee it,drones will continuously spawn from it infinitely, and they will repair the hive, so best to shoot it down and kill all the drones before attempting a tame. Oh, and the queen will spawn more drones periodically, so bee careful.
The honey is a must for fishing. It can be used for salmon, just like leech blood. I used it as bait for an hour and noticed that fish bite more frequently. In a pool with coel and salmon, I noticed that the salmon bit more frequently than the coels while using honey as bait.
When following the Giant Queen Bee its good to have a full set of ghillie armor, bug repellant and for some reason crouching seems to put you slightly below the drones hit range, as long as you keep moving that is. I used this tactic earlier today to tame my first queen and it worked very well
I actually had a hive spawn on green obelisk in the island, so that's always good place to look if you're trying to find one. Can also be found in redwoods, or on surrounding rocks in case you don't wanna get mauled by Thylacoleos.