Billy Joel sang a song with that word. Good song.
It is a simple word, describing a simple trait. A trait which has elements of truth, requiring a person who wishes to be associated with that word, to be truthful and conduct oneself with integrity.
There are people who just cant be honest. They would say a thing and do another. They would agree to an issue, and conveniently forget about it and say something else. They would act dishonestly and defend their dishonesty with vigor and enthusiasm, traits which we would wish this dishonest person would have illustrated whilst acting honestly, not dishonestly.
But as Billy Joel sung:-
Honesty is such a lonely word
Everyone is so untrue
Honesty is hardly ever heard
And mostly what I need from you
How accurate this can be.