In a large mixing bowl, whisk together mayo, honey, crushed red pepper flakes, garlic powder, and salt until smooth and creamy. Set aside.

In a medium saucepan, combine sugar and water. Bring to a gentle boil over medium heat. Add walnuts and cook for 2 minutes, stirring occasionally. Drain and spread out to cool.

Rinse the shrimp under cold water and pat dry with paper towels. Place shrimp in a zip-lock bag with flour and shake to coat evenly.

In a shallow dish, whisk together eggs and water to create an egg wash. Dip floured shrimp in egg wash and then press into panko breadcrumbs until well coated.

In a large skillet, heat vegetable oil over medium-high heat. Fry shrimp in batches for 4-5 minutes until golden brown. Transfer to paper towel-lined plate.

Once all shrimp are fried, toss them in the sauce until well-coated. Arrange on a serving platter and sprinkle with candied walnuts.