Prepare the Shrimp: In a bowl, marinate the shrimp with salt, white pepper, and egg white. Set aside.
Make the Candied Walnuts: In a small saucepan over medium heat, melt butter, then add honey and water. Stir in walnuts and coat well. Let it simmer for 2 minutes. Transfer to a plate to cool.
Coat the Shrimp: In a bowl combine potato starch, salt, and white pepper. Place the shrimp in the potato starch mixture.
Make the Sauce: In a large bowl, whisk together mayonnaise, sweetened condensed milk, and lemon juice.
Fry the Shrimp: Heat oil. Fry shrimp in batches for 3 minutes until golden and crispy. Drain on a paper towel.
Toss and Serve: Immediately toss the fried shrimp and candied walnuts in the sauce. Serve warm and enjoy!