Divide the red bean paste into 5 equal portions. In a bowl, whisk together the flour, baking powder, and baking soda. In a separate bowl, whisk the egg, sugar, honey, and milk. Add the dry ingredients to the wet ingredients and mix until just combined. Each obanyaki uses 2 pancakes.

Heat an electric griddle. Pour the batter onto the griddle in even, round shapes, making an even number of circles. When bubbles appear on the surface, place a portion of red bean paste on half of the pancakes, then cover each with another pancake. Seal the edges as you go.

Flip each obanyaki once more and cook until both sides are golden brown and the center is cooked through. If you have a lid, use it to help cook the centers thoroughly.