Heat olive oil in a large skillet over medium-high heat.
Add chopped onion and cook for 2-3 minutes until softened.
Add minced garlic and grated ginger; cook for 1 minute until fragrant.
Add ground beef to the skillet and cook, breaking it apart with a spatula, until browned and cooked through, about 5-6 minutes.
Drain any excess fat from the skillet.
Stir in soy sauce, hoisin sauce, crushed red pepper flakes, chopped water chestnuts, and shredded carrots. Cook for 2 minutes, stirring frequently.
Remove skillet from heat and stir in sliced green onions. Season with salt and freshly ground black pepper to taste.
In a small bowl, whisk together sesame oil, rice vinegar, and honey to make a dressing.
To assemble, spoon about 2-3 tablespoons of the beef mixture onto each butter lettuce leaf.
Drizzle a small amount of the dressing over the beef in each lettuce wrap.
Serve immediately and enjoy!