Is a stock Honda oem airfilter supposed to have oil on it? Mine does and it is red in color. It is not a K and N. Thanks.

 

Stock Honda air filters are generally red in color and are a paper element, so that's normal. If it's not a whole lot of oil in your air box that's normal also. BUT if your air filter is saturated in oil and there is quite a bit of oil then i would suggest that you replace your air filter and clean out the air box. Then check your oil level of your bike.

Run the bike for 10-15 minutes (idle) and then let it sit for about 5 and check the dip stick. It should be between the high and low marks on the dipstick. If it is above or right at the high side would suggest removing a little bit.
If it's cold and it reads full on the dipstick your bike is overfull, so when it gets hot it changes viscosity and would make it overfull and pump the excess through the crankcase breather which leads up into the airbox