Mix water and sugar in a saucepan and bring to a boil. Add walnuts and boil for 2 minutes. Once done, drain water using a strainer and place walnuts on a cookie sheet to dry.
Whip egg whites in a bowl until they become foamy. Stir in cornstarch and stir well. Heat oil in a deep skillet over medium high heat. Dip shrimp into batter then fry until they become a golden brown color. When done, remove shrimp from oil then place on paper towels to remove any excess oil.
In a medium bowl, combine mayonnaise, honey, and sweetened condensed milk and mix well. *This is your sauce.*
Before serving, toss shrimp with sauce and coat well. Add candied walnuts a serve.