Heat vegetable oil in a large skillet over medium high heat.
Heat 1/2 cup water in a small saucepan over medium heat and bring to a boil. Add sugar and stir, constantly, until golden and thickened. Add walnuts and gently toss to combine. Transfer to a parchment paper-lined plate.
In a small bowl, whisk together mayonnaise, honey and condensed milk; set aside.
Season shrimp with salt and pepper, to taste.
Working one at a time, dip the shrimp into the egg, then dredge in the cornstarch, pressing to coat.
Working in batches, add the shrimp to the skillet, 8-10 at a time, and fry until evenly golden brown and crispy, about 1-2 minutes on each side. Transfer to a paper towel-lined plate.
In a large bowl, combine shrimp and honey mixture.
Serve immediately, topped with walnuts.
1 cup vegetable oil
1/2 cup sugar
1/2 cup walnut halves
3 tablespoons mayonnaise
1 1/2 teaspoons honey
1 1/2 teaspoons condensed milk
1 pound medium shrimp, peeled and deveined
Kosher salt and freshly ground black pepper, to taste
1 large egg, beaten
1/2 cup cornstarch