In a wok, heat oil for deep-frying to 300° over medium heat. Add walnuts and deep-fry, turning frequently, until golden brown, 4 to 5 minutes. Remove and drain on paper towels.
Combine brown sugar and butter in a saucepan. Cook, stirring, over low heat until brown sugar melts. Add honey and five-spice; mix well. Remove saucepan from heat and add walnuts and sesame seeds; toss gently to coat.
Spread mixture in a foil-lined baking pan. Let stand until cool. Break into bite size pieces before serving.