In one of the mixing bowls, mix together the yeast, milk, water, and 1 1/2 tablespoons of sugar.
Allow the mixture to rest for eight to ten minutes, or until it becomes frothy.
In the other mixing bowl, combine the flour, sugar, beaten eggs, melted butter, and baking powder.
Once the yeast mixture becomes frothy, pour it into the bowl with the other ingredients.
Heat canola oil in a skillet. Ensure there is enough oil for deep-frying the ozzie rolls.
Preheat the oven to 325 degrees Fahrenheit (163 degrees Celsius).
The Ozzie roll dough should be cut into small pieces.
Place the dough pieces carefully into the hot oil.
Fry them for about 10-15 seconds, as they brown very quickly. Be cautious and do not overcrowd the wok or skillet.
Remove the fried dough balls from the oil and place them onto the baking sheets.
Bake the ozzie rolls in the preheated oven for 10 to 12 minutes or until they are golden brown.
While the Ozzie rolls are baking, prepare the honey butter.
Melt 1/4 cup of butter in a small saucepan. Once melted, mix in 1/4 cup of honey.
Once the ozzie rolls are done baking, remove them from the oven.
Brush the honey butter mixture over all sides of the Ozzie rolls while they are still hot.
Serve the ozzie rolls hot and enjoy!