Preheat oven to 350˚F/177°C. Line a baking sheet with parchment paper and set aside.
In a large bowl, melt the coconut oil (if not already). Whisk in honey, maple syrup, vanilla, and salt (if using) until smooth. Add peanuts to the whisked mixture and stir to coat. Spoon nut mixture on the prepared baking sheet and spread to a single layer.
Bake for 10 minutes stirring the nuts about halfway through to move around the nuts. Careful not to let them burn (add or decrease time, if needed). Remove the pan and allow the nuts to cool for ~5 minutes.
While still warm, place the coated peanuts in a food processor or blender. If you want chunky nut butter, remove ¼ cup chopped nuts just after ~10-20 seconds of blending while they are still chunky. Set aside until the end.
Blend until you reach a smooth butter texture. This could take about 5-10 minutes, just be patient. If your food processor appears to be overheating, stop the machine and allow it to cool before continuing. Throughout the blending process, stop the machine and scrape down the sides using a spatula.
The peanuts will process through different stages. 1) finely chopped, 2) large sticky chunks, 3) a thick paste, and finally 4) smooth glistening butter (you should see a shine from the oils, if not, keep blending!).
Once the butter is smooth, add the chunky nuts and pulse a few times to incorporate.
Transfer the peanut butter to an airtight container and store in the refrigerator for up to a month. If oil separation occurs, simply stir until smooth.