Unscrew the part from the main cover. Then, remove the peeling paint by hand, or with fine (600 grit) emory cloth (wet/dry). Use lots of water, and don't be afraid to go to a slightly more course grit if you need to. If you do the whole thing, consider using a paint remover, but test it to be sure it doesn't damage the plastic. If you can, do the whole thing, and you don't have to worry about feathering.
Put a couple of the mounting screws into the bottom of the part, and connect them with anything that lets you have a handle on the part. Then spary with zinc chromate primer. If you're only doing the affected area, watch out for overspray, and be ready for masking tape to lift off paint that you thought was good.
Once primed, lightly sand with 600 grit and water. Let dry, and then paint.
If you use Honda factory paint, you'll get a perfect match, and the texture will be first class. If you use other "Honda" color paint, you'll come pretty close on color and texture, and probably won't notice the difference when you put the part back on the motor cover. Either way, hold the part in a gloved hand, and rotate as necessary to prevent runs. Got to be careful here. Do multiple coats, sanding lightly with 600 grit and water between coats. Before the final coat, I like to do a very light 1500 grit sanding.
After the final coat, you're ALMOST finished. Apply a clearcoat overcoat, or the paint won't hold up. So, for pricing, you're looking at three spray cans (primer, paint, and clearcoat), and a couple of sheets of sandpaper. But, the job is very doable if you're careful, and have a good place to work.
Good luck!
