Preheat oven to 350°F and grease a 9-inch springform pan.
In a medium bowl, stir together graham cracker crumbs, pistachios, 1/4 cup sugar, melted butter, and wasabi powder until it resembles wet sand. Press into the bottom of prepared pan and bake for 10 minutes. Let cool.
In the bowl of a stand mixer fitted with a paddle attachment, beat softened cream cheese and 1 1/4 cups sugar on low speed until creamy and smooth. Beat in eggs, one at a time, until fully incorporated. Mix in vanilla extract.
Pour filling over cooled crust and smooth into an even layer. Tap the pan a few times on the counter to release any air bubbles.
Bake for 60-65 minutes, or until edges are lightly browned and the center is just barely jiggly. Remove from oven and run a knife around the edge of the cheesecake to loosen it from the pan. Allow to cool to room temperature, then refrigerate until fully chilled and set, at least 4 hours or overnight.
In a small saucepan, bring grapefruit juice and honey to a boil over medium-high heat. Reduce heat to low and let simmer, stirring occasionally, for 15-20 minutes, or until thickened and syrupy. Let cool.
Once cheesecake has chilled, use a spatula to carefully remove from the pan and onto a serving platter. Pour grapefruit honey sauce over the top and sprinkle with grapefruit zest.