Prepare the Confit Butter: In a medium skillet over low heat, add the sliced shallots and cook slowly, stirring occasionally, until they are soft and caramelized, about 15-20 minutes. Be careful not to let them burn. Once caramelized, add the minced smoked garlic and cook for an additional 1-2 minutes until fragrant. In a bowl, combine the softened butter, caramelized shallots and garlic, balsamic vinegar, honey, salt, and pepper. Mix until well combined. Shape the butter into a log using parchment paper and refrigerate until firm.

Prepare the Ribeye Steaks: Preheat your grill or cast-iron skillet over high heat. Pat the ribeye steaks dry with paper towels and season both sides generously with salt, black pepper, smoked paprika, garlic powder, rosemary, thyme, and parsley. Drizzle olive oil over the steaks, ensuring they are coated evenly.

Cook the Steaks: Once the grill or skillet is hot, add the ribeye steaks. Cook for about 4-5 minutes on one side without moving them to develop a nice crust. Flip the steaks and cook for another 4-5 minutes for medium-rare, or adjust the time to your desired doneness. Use a meat thermometer for accuracy (130°F for medium-rare). Once cooked to your preference, remove the steaks from the heat and let them rest for about 5-10 minutes.

Serve: Slice the rested ribeye steaks and place them on a serving platter. Top each steak with a generous dollop of the caramelized shallot confit butter. Garnish with fresh herbs if desired, and serve immediately.