Line a baking sheet with parchment paper; set aside.
In a heavy-bottomed nonstick skillet, add the sugar and water. Heat over medium-high, stirring with a wooden spoon until the sugar dissolves.
Allow the mixture to come to a boil, then cook without stirring until the syrup starts to thicken and bubble steadily.
Add the pine nuts, reduce the heat to medium-low, and stir constantly with the wooden spoon.
Once the sugar crystallizes around the nuts, continue stirring until it melts again into a glossy caramel.
Remove the skillet from the heat when the caramel turns a golden color.
Carefully transfer the candied pine nuts onto the prepared parchment paper, separating them with two forks before they cool.
Let cool completely at room temperature, then store in an airtight container.