In a saucepan over medium-high heat, add the blueberries, honey, and water. Cook the mix, stirring often, until the blueberries begin to soften and burst (approximately 10 minutes).
Transfer the blueberries to a high-sided pot. Using a food processor, process the blueberries until smooth (or until they reach your desired consistency for the BBQ sauce).
Add the ketchup, molasses, apple cider vinegar, brown sugar, chipotle peppers and adobo sauce, liquid smoke, and salt, and pepper. Stir to combine.
Taste the sauce and add additional salt, pepper, or chipotle pepper (for a hotter sauce) to taste.