The O2 sensor is allegedly bad. This might be a computer problem mis-reading. Honda recommended a fix. You can read about it here:
I took my car to a Honda dealership because check engine light came on. They said it was the 02 sensor and would repair it for 497.00. I said no thanks.
Engine lite came on....had a computer check ran....oxygen sensor was bad....replaced...runing great now.
My 2004 engine light came on. Diagnosis revealed a failed oxygen sensor. I think I paid about $185 to have it replaced in Tacoma, WA.
Check Engine Light (CEL) came on. I went to Autozone and had the codes read. P0507 and P0141 came up. I bought the Bosch OEM replacement for the secondary sensor that screws into the catalytic converter. The wire from the oxygen sensor comes up through the floor board under the right front seat and plugs into an OEM connector. Be sure to replace the oxygen sensor with an OEM version, so you can easily plug it in without cutting any wires, etc.
O2 censor light replace/repair
o2 sensor problem, bought Denso For $79 changed myself
Check engine light; 02 sensor; bank 1, sensor 1.
Repair quote from Roberts Automotive $398
My check egine light on need o2 sencor
Software Update - Didn't Work
Replacement of 1 Bad Sensors
oxigen sensor bank 2 not working