Preheat your smoker to 225 degrees Fahrenheit using a mild hardwood such as cherry or apple.
In a large pot, bring salted water to a boil and cook macaroni noodles according to package instructions. Drain and set aside.
In a medium saucepan, melt 1/2 cup of butter over medium heat.
Whisk in 1/4 cup of flour until a smooth paste forms.
Slowly whisk in 2 cups of milk, stirring constantly. Bring the mixture to a boil and reduce the heat to low.
Stir in 2 cups of shredded cheddar cheese until it is fully melted and the sauce is smooth.
Add the cooked noodles to the cheese sauce and stir until they are coated.
Transfer the mac and cheese to a lightly greased 9x13 inch baking dish.
In a small bowl, mix together 1/4 cup of melted butter, 1/2 cup of panko bread crumbs, and a pinch of salt. Sprinkle this mixture over the top of the mac and cheese.
Place the baking dish in the smoker and smoke for 1 hour.
Serve the mac and cheese warm. Enjoy!