Grades

Hi,
I wonder if some of you might give me an opinion on how to proceed with something.
I'm currently a 3rd Dan (trained 14 years) and run a kickboxing club which I rescued a year ago and have pulled it out of the doldrums, now starting to flourish with some improvements that my students have pointed out. This has meant though that there's no-one effectively 'above' me to issue me any further grades.

I do still train, but following on from the organisation I began with, traditionally grades above 3rd Dan were 'honorary' (ie no grading exam required, but more a question of what you did to help improve the club and help its students, etc). I've stuck with that system, and strictly speaking my 4th Dan is due this year.

I'm not desperate to add more stripes (e happy to stay as I am really) but I'm aware my students expect that I will continue as they do- but I feel uncomfortable awarding myself, even if I make nothing of it and just add the stripe.

The question is- is it OK for me to award my own honorary grade? Should I ask my students what they think? Is there a protocol I'm missing?
I have been a 3rd Dan now for 4 years so I'd not be jumping any guns- I just wonder what you think and value your input.
Thanks.