If you want something that will read all the systems, you need the dedicated diagnostic tool for the car - in this case, Honda HDS or one of the Chinese clones.
They are necessary for fault finding, but if you just want something to give fuel consumption, temperatures, manifold pressure and the like, then the OBD II is the way to go.
Generic OBD2 readers/dongles can also be very useful for engine faults, and cheap Bluetooth ones can be purchased on that well known auction site for a few pounds. Use with a smart phone and an app like Torque, or one of the many other OBD apps.
In addition to the live sensor data, you can also read engine management codes and reset the EML if a fault puts it on.
However, if you need access to other systems, such as ABS, SRS, airbags, security systems, auto gearbox, etc., you need the Honda tool.