In a small bowl, whisk together mayonnaise, sweet chili sauce, sriracha, rice vinegar, and honey until smooth and well combined. Pro tip: Make the sauce first so the flavors have time to meld while you prepare the shrimp.

Taste and adjust spice level by adding more sriracha if desired. Set aside.

Pat shrimp completely dry with paper towels and season with a pinch of salt and pepper. Pro tip: Removing excess moisture is crucial for getting the coating to stick properly.

Place 1/2 cup flour in a shallow dish for dredging the shrimp.

In a medium bowl, whisk together remaining 1/2 cup flour, cornstarch, salt, pepper, and paprika.

Gradually whisk in cold water until you have a smooth batter with no lumps. The consistency should coat the back of a spoon. Pro tip: Cold water helps create a crispier coating when it hits the hot oil.

Heat vegetable oil in a large, heavy-bottomed pot to 350°F (175°C). Use a candy thermometer to monitor temperature. Pro tip: Maintaining proper oil temperature is key - too low and the shrimp will be greasy, too high and they'll burn before cooking through.

Working in small batches, dredge each shrimp in flour, shaking off excess, then dip in batter, letting excess drip off. Pro tip: Don't overcrowd the pot - fry in batches of 6-8 shrimp for best results.

Carefully lower battered shrimp into hot oil and fry for 2-3 minutes until golden brown and cooked through.

Remove with a slotted spoon and transfer to wire rack to drain. Repeat with remaining shrimp.

While shrimp are still warm, gently toss them in the prepared bang bang sauce until evenly coated. Pro tip: Toss the shrimp while they're warm so the sauce adheres better and doesn't make the coating soggy.

Transfer to serving platter and garnish with sliced green onions and sesame seeds if desired. Serve immediately.