Preheat oven broiler.
Heat a large nonstick skillet with a tight-fitting lid over medium-high heat; coat with a little olive oil. Add onion rings to the pan; cover and cook for 3 minutes then add vinegar, honey and half of the salt.
Reduce heat and simmer, uncovered, for 8 minutes or until slightly thick, stirring occasionally.
Sprinkle thyme, black pepper, and remaining salt evenly over the steaks then place them on a broiler pan coated with a little olive oil; broil for 4 minutes per side or until the desired level of doneness is achieved.
Serve with red onion mixture.