In a small skillet, heat the oil over medium-high heat.
While it’s heating, cut the squid into 1/2-inch rings.
In a large bowl, mix flour, cornstarch and spices; add calamari rings and toss until completely coated.
Once the oil is hot enough (sizzles ferociously when a drop of water is added), add 1/4 of the calamari and fry for 3 to 4 minutes, or until crispy and golden.
Place cooked calamari on a large platter lined with a paper towel and continue to cook the calamari, in batches, until finished.
Drizzle with tabasco and honey sauce; serve with cilantro aioli.
Best when served right away.