This sentence from a piece by Frank Bruni in the New York Times illustrates the standard use of “home” in a spot where writers might choose “hone.”
“Because we didn’t see Santorum coming, we homed in on his extremism late, so that he was able for a long while to play offense instead of defense and choose his talking points.”
Bruni is using the metaphor of locking on a signal and following it, as a missile is guided to a target. Some writer would choose “hone in,” thinking perhaps that the image is of narrowing a viewpoint. Usage may be changing on this set of words, but for now, “home in” is standard.