Check this blue post out made 08/04: https://us.forums.blizzard.com/en/wow/t/patch-252-content-in-testing/1051804/4
Honor will not be reset at the beginning of Season 2. When Season 1 ends, there will be a one-week offseason period. When Season 2 begins, any remaining unspent Arena points will be converted to Honor Points at a rate of: 1 Arena Point = 10 Honor Points.
Reads that Arena points will not be converted until Season 02, beginning 09/14.
Based of off today’s post on 08/27:
All together reads that Arena points will be able to be used during the Season 01 Offweek, to purchase gear at the reduced cost.
There is also discussion regarding this in today’s (08/27) blue post.
Seems good.