Preheat the oven to 375ºF. Grease a 9-inch nonstick cake pan that’s at least 2 inches deep with olive oil and line the pan with parchment paper. Dust the pan with flour, shaking out any excess.
In a large bowl, add 2 cups of flour, baking powder, baking soda, and salt and whisk to combine. Set aside.
In the bowl of a stand mixer fitted with the whisk attachment, add the sugar and eggs and beat on high until thick, fluffy and light yellow in color, about 5 minutes. When the mixture is picked up by the whisk attachment, ribbons of batter should form. Reduce the speed to low and slowly add the orange zest, vanilla extract and ⅔ cup olive oil. Mix again until combined on medium speed.
Switch to the paddle attachment and add the milk and orange juice. Mix again to combine. Add the flour mixture bit by bit, ensuring it’s fully combined before adding additional flour.
In a small bowl, toss the raisins with the remaining 2 tablespoons of flour. Remove the bowl from the stand mixer and fold in the raisins.
Pour the batter into the prepared cake pan and bake for 48 to 55 minutes, or until a toothpick inserted into the middle comes out clean.
Cool the cake in the pan for 15 minutes. Run a paring knife or small offset spatula around the rim of the cake pan, then flip onto a baking rack, so the bottom of the cake is now the top.
In a small bowl, combine the honey with 1 tablespoon warm water. Brush the cake with the honey mixture while it’s still warm. Allow the cake to cool completely.
Dust with confectioners’ sugar and orange zest. Serve immediately.
