In a saucepan, combine sugar and water over medium heat. Stir until sugar dissolves.

Add walnuts and cook for about 5 minutes until syrup thickens and walnuts are coated.

Remove from heat and spread walnuts on parchment paper to cool.

In a mixing bowl, combine cornstarch and flour. Dip shrimp in beaten egg, then coat with flour mixture.

Heat vegetable oil in a large skillet over medium-high heat. Fry shrimp in batches until golden brown, about 2-3 minutes per side.

Remove shrimp and drain on paper towels.

In a bowl, whisk together honey, mayonnaise, sweetened condensed milk, and lemon juice until smooth.

In the skillet, add fried shrimp and honey sauce. Toss to coat evenly.

Top with candied walnuts and serve immediately.