Adjusting heat as needed to maintain oil temperature, carefully slide doughnuts into pan and fry until golden on bottom and puffed on top, about 2 minutes. Turn and fry until golden on the other side, about 2 minutes. Remove from oil with a spider or slotted spoon and immediately dunk in cinnamon honey, turning several times to coat thoroughly. Transfer to a wire rack. Working in batches of 3 or fewer, repeat forming, frying, and coating doughnuts until you’ve used up all of the remaining dough.