Sift flour, milk powder and bicarbonate of soda together; set aside. Combine eggs, sugar and honey in a mixing bowl. Whisk until mixture is creamy. Add 80ml fresh milk and stir until thick. Add sifted dry ingredients, remaining fresh milk and vanilla essence to mix. Add cream cheese and whisk to combine.
Heat a nonstick saucepan and lightly grease with canola oil. Add a tablespoon of batter. Allow to cook over low heat gradually until one side turns golden. Flip over to brown the other side. Remove the dorayaki and continue with the rest of the batter.
To serve: Add some red bean paste in between two pieces of dorayaki. Serve at once.