Pour a light glug of olive oil in a large bowl and swirl it all around. You want to make sure the bottom and sides are evenly covered in oil, but that it isn't heavily pooling on the bottom. Set aside.
In the bowl of an electric stand mixer fitted with the dough hook attachment add the milk, water and yeast. Let mingle and get frothy for about 5-10 minutes.
Once you see the yeast foaming up over the top of the liquid, add in the honey, olive oil, flour and salt. Knead for 10-15 minutes on medium until a ball has formed that isn’t sticking to the sides of the bowl.* However, it may be sticking to the bottom of the bowl and the dough will be slapping the sides. Sprinkle the dough with a light dusting of flour to help get it out of the bowl and set it in the large bowl that's lightly oiled. Rotate the dough so that the top and bottom of the dough has a light covering of oil over it. Loosely cover the bowl with plastic wrap or a damp towel and let rise for 1 1/2 to 2 hours or until double in size. *You could also just use your hands to knead the dough together on a floured surface.