With a rested bonus of 22 minutes I tend to eat as I am leaving the base first thing in the morning so that travel to where ever I'm going fills my health bar and I'm at max for the day (which lasts 21 minutes). When about 2/3rds of my rested bonus is gone I head back to safer biomes or a portal to the main base and then do house keeping stuff in the last bits of the food (put away loot, repair, make arrows, cook if needed, fill/empty fermenters, run the obliterator if needed, etc.) if that takes me all the way through night time that's OK. If not I sleep and then start the next day which is when I refresh food again.