Make the candied walnuts:
In a small saucepan, combine the sugar, water, and a pinch of salt. Bring it to a simmer over medium heat, stirring occasionally. Once the sugar has dissolved, add the walnut halves and continue to cook for 2-3 minutes, stirring frequently, until the syrup thickens and the walnuts are coated.
Remove the walnuts from the saucepan and place them on a parchment-lined baking sheet to cool.

Prepare the shrimp:
In a shallow bowl, combine the cornstarch, flour, salt, and pepper. Stir in the cold water and beaten egg to make a batter. It should be slightly thick.
Dip each shrimp into the batter, ensuring it’s fully coated.

Fry the shrimp:
In a large skillet or wok, heat vegetable oil over medium-high heat. Once hot (around 350°F/175°C), carefully drop the battered shrimp into the oil, a few at a time, frying them for about 2-3 minutes or until golden and crispy.
Remove the shrimp from the oil and place them on a paper towel-lined plate to drain excess oil.

Make the sauce:
In a small bowl, whisk together the honey, mayonnaise, sweetened condensed milk, lemon juice, and a pinch of salt. Mix until smooth.

Assemble the dish:
Place the crispy shrimp in a large bowl and drizzle the honey sauce over them, tossing gently to coat.
Add the candied walnuts on top, and give the shrimp one final toss to combine everything.

Serve:
Serve immediately over steamed rice or enjoy on its own! Garnish with extra walnuts if desired.