Preheat your air fryer to 350 degrees F, air fryer setting, preheat for about 3 to 5 minutes.
Then add your almonds to the air fryer basket, set the time for 5 minutes, shaking your basket several times during the cooking process. Remember, nuts can burn quickly, so observe!
Remove your almonds from the air fryer basket.
In a mixing bowl, combine sugar, salt, and cayenne pepper. Set aside. In a large skillet, heat water, honey, and oil over medium heat. When you start to see bubbles, add toasted almonds and coat with mixture.
Remove from heat and spoon almonds into a bowl with the sugar mixture and stir until all the almonds are well coated.
Allow to cool and then serve!