Preheat oven to 300 ° Place ham cut side down in a roasting pan and add water to the bottom of the pan. Cover ham with foil and bake for 1 hour and 40 minutes, or until internal temperature reaches 135 °F.
Meanwhile, make the glaze. Combine all glaze ingredients in a small saucepan and bring to a simmer over low heat. Simmer and stir until sauce has thickened and reduced to ½ cup, about 8-10 minutes. Remove from heat.
Once ham has heated through, remove from oven. Increase oven temperature to 400 ° Brush glaze over surface and return to oven, uncovered, for 10 minutes or until glaze is caramelized.