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 Giant Bee builds its nest at the tops of Redwood trees. While it's not an easy task, a nest can be broken open and the queen can be tamed. Once tamed, she will generate honey as well as lay drone eggs.