I'm pretty sure you need to prove an income higher than that. When I do a quick search, I come up with this information:
RETIRED: The applicant must have a lifetime benefit of at least $1,500 per month coming from a private or government institution
Source:
http://internationalliving.com/countries/honduras/visa/
The other class would be as a RENTISTA, which is $2,500 in monthly income

I'd suggest getting in contact with a Honduran lawyer to find out what proof of income you'd need to show.
There are some yahoo chat groups that you might find useful, like living in Honduras, and this blog might be of interest (written by an American): http://lagringasblogicito.blogspot.ca/

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