Thaw swordfish, if frozen. Rinse swordfish; pat dry. Set aside.
For the relish, in a small bowl stir together the cherries, the 2 tablespoons vinegar, and water; set aside. In a small saucepan cook the onion in 1 teaspoon olive oil until tender. Stir in cherry mixture, sugar, and hot pepper sauce. Keep warm over low heat until serving time, stirring occasionally.
In a small bowl stir together thyme, paprika, black pepper, onion powder, and ground red pepper. Combine 1 teaspoon olive oil and the 1 teaspoon vinegar. Lightly brush both sides of swordfish with the oil mixture. Rub the herb mixture onto both sides of the swordfish.