Recently, the frustrated XY model for spins 1/2 on the honeycomb lattice has attracted a lot of attention in relation with the possibility to realize a chiral spin liquid state. This model is relevant to the physics of some quantum magnets. Using the flexibility of ultracold atom setups, we propose an alternative way to realize this model through the Mott regime of the bosonic Kane-Mele-Hubbard model. The phase diagram of this model is derived using bosonic dynamical mean-field theory. Focusing on the Mott phase, we investigate its magnetic properties as a function of frustration. We do find an emergent chiral spin state in the intermediate frustration regime. Using exact diagonalization we study more closely the physics of the effective frustrated XY model and the properties of the chiral spin state. This gapped phase displays a chiral order, breaking time-reversal and parity symmetry, but is not topologically ordered (the Chern number is zero).