I don't really go out of my way to honor Water. I don't really do that for any element. I have them represented on my daily altar. And they are all of course represented in the pentagram I wear. But other than that, I don't really honor them.
My relationship with water is lacking though. Although we as humans are mostly made of water, we still require an intake of water to survive. I don't drink as much water as I should, which can definitely cause health problems. It is a relationship I definitely need to improve. I have started to improve it, becoming healthier by choosing tea vs pop, and similar choices. But spiritually, I haven't begun the process of enhancing my relationship.
That's going to be a goal of mine: to improve my relationship with the five elements.