We present a new swarm based algorithm called Honey Bee Foraging (HBF). This algorithm is modeled after the food foraging behavior of the honey bees and performs a swarm based collective foraging for fitness in promising neighborhoods in combination with individual scouting searches in other areas. The strength of the algorithm lies in its continuous monitoring of the whole scouting and foraging process with dynamic relocation of the bees if more promising regions are found. The algorithm has the potential to be useful for optimization problems of multi-modal and dynamic nature.