“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.”
From a wowhead blue post
So it looks like we have the one week window to spend on reduced cost season 1 gear before our arena points turn to honor.