A honing steel does not sharpen knives. It aligns the edge of the blade so it cuts effectively. A sharpening steel or stone would sharpen a knife, and a well-maintained knife in a regular household kitchen would probably only need sharpening once or twice a year. You can hone as needed which can be a couple times a month or daily depending on how often you use your knives.
My brother works in a meat department and hones their knives daily. Their knives are shipped out biweekly for professional sharpening.
ChefTool's answer on how to hone is correct.