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Step 1
Pour water into a small saucepan over high heat. Mix in the sugar until dissolved. Bring the mixture to a boil. Add the walnuts and boil for 2 more minutes. Drain the walnuts and spread them in a single layer on a baking sheet lined with parchment paper to dry.
Step 2
Whisk the egg whites until foamy. Whisk in mochiko until the mixture turns into a paste-like batter.
Step 3
Preheat oil in a heavy deep skillet over medium-high heat.
Step 4
Working quickly, dip the shrimp in the mochiko batter and shake off the excess. Fry in the skillet until golden brown, about 2-3 minutes on each side. Drain shrimp on a wire rack. Repeat until all remaining shrimp are fried.
Step 5
In a large bowl, whisk together mayonnaise, honey, and sweetened condensed milk. Toss in cooked shrimp. Sprinkle with candied walnuts and serve. Enjoy!