Preheat oven to 325 degrees.
Grate summer squash, place in fine mesh colander, sprinkle with a dash of salt and toss to coat. Let this sit and strain for 5 minutes while you do the following steps.
Sift together flour, cinnamon, baking soda, baking powder, and salt.
Mix oil, applesauce, honey, eggs, sugar, and vanilla extract.
Either press yellow squash into colander or transfer to cheesecloth and wring out moisture. I got close to ½ cup of liquid while doing this! You don’t have to squeeze it bone dry, just enough that it isn’t sopping wet. Add yellow squash to oil mixture and combine thoroughly.
Add dry ingredients to wet ingredients, being careful to not overmix. Mix until no trace of flour remains.
Pour batter into 8x4 or 9x5 loaf pan, sprayed with nonstick cooking spray.
Bake for 50-60 minutes, depending on oven strength. Check with a toothpick or knife at 50 minute mark, adding 5 minutes until toothpick comes out clean. For me it was 55 minutes exactly.