In a large mixing bowl, stir together yeast, sugar and warm water; let stand 10 minutes, or until frothy.
Add flour, salt, and 1 cup water to yeast mixture.
Mix until combined. You may need to mix with your hands.
Transfer to a lightly floured surface and knead for 15 minutes by hand, or 10 minutes by heavy-duty mixer, until the dough is very smooth.
Lightly oil a large bowl, place the dough in the bowl and turn to coat with oil.
Cover with plastic wrap and kitchen towel; let stand for 2 hours.
Place dough on a lightly floured work surface and knead it for 5 minutes.
Roll the dough into a log and cut it into equal pieces.
Form each piece into a ball and let rest under a towel for 30 minutes.
Roll each ball into a 10-inch long rope.
Form the rope into a ring, pressing the overlapping ends together to seal.
Place on a greased baking sheet and let rest 1 hour.
Preheat oven to 450.
In a medium size mixing bowl whisk together honey and 1 cup of water.
Put the sesame seeds on a flat plate.
Dip each ring of Gevrek in honey-water first, then in the sesame seeds, completely coating the Gevrek with the sesame seeds on all sides.
Continue with the rest of the dough and transfer them all back to the baking sheet; let rest 30 minutes.
Take each ring and rotate it gently through your hands, enlarging it into about a 6-inch circle.
Place the rings back on the baking sheet and let rest for 15 minutes.
Bake for 15 to 20 minutes, or until golden brown.
Let rest for 5 minutes.
Serve plain or with a side of yogurt.