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At least 1 hour before grilling, soak plank in enough water to cover. Place a weight on the plank so it stays submerged during soaking.
In a small saucepan, combine port and honey. Bring to a boil, stirring to dissolve honey. Reduce heat to medium; simmer, uncovered, for about 15 minutes or until reduced to 1/4 cup. Cool.
In a small bowl, combine garlic, thyme, salt, pepper and coriander. Sprinkle the mixture on both sides of steaks; rub in with your fingers.
Place plank on the rack of an uncovered gas or charcoal grill directly over medium heat until plank begins to crackle and smoke. Meanwhile, place steaks on the grill rack. Grill for 4 to 6 minutes or until grill marks appear, turning once halfway through grilling. Place steaks and onion slices on plank. Cover; grill for 9 to 11 minutes for medium-rare (145°F) or 11 to 13 minutes for medium (160°F).
Transfer plank with steaks to a serving platter. Cut steaks in half. Separate onion slices into rings. Drizzle steaks with port mixture. Sprinkle with blue cheese and top with onion rings.