Heat olive oil in a deep sauté pan over medium heat. Add onion and cook until soft, about 5 – 7 minutes. Add yellow bell pepper and garlic and cook until peppers are soft, about 3 – 4 minutes.
Add tomato paste and mix well, then add tomatoes and cook until soft, 1 – 2 minutes. Add water, bulgur, salt, pepper and red pepper flakes. Bring to a boil then reduce heat to low, cover and cook until bulgur is tender, 10 – 15 minutes, stirring occasionally. Mix in lemon juice, honey and herbs.