Prepare the Dough: In a mixing bowl, combine the flour, yeast, sugar, and salt. Gradually add the warm water and mix until a sticky dough forms. Cover with a damp cloth and let it rise in a warm place for about 1 hour or until doubled in size.
Make the Rosewater Syrup: While the dough is rising, prepare the syrup. In a saucepan over medium heat, dissolve the sugar in water, stirring occasionally. Once the sugar is dissolved, add the rosewater and simmer for 10 minutes until the syrup thickens slightly. Remove from heat and allow it to cool.
Heat the Oil: Fill a deep pot or deep fryer with oil and heat it to 350°F (175°C). Ensure there's enough oil so the lokmas can float without touching the bottom of the pot.
Fry the Lokmas: Once the dough has risen, wet your hands with a little bit of oil to prevent sticking. Pinch off small pieces of dough, about the size of a walnut, and drop them carefully into the hot oil. Fry the lokmas in batches, turning them occasionally, until they are golden brown on all sides.
Soak in Syrup: Using a slotted spoon, remove the fried lokmas from the oil and drain them briefly on paper towels. While still warm, dip them into the cooled rosewater syrup, allowing them to soak for a minute before removing and draining on a wire rack.
Add the Pistachios: Sprinkle the soaked lokmas with crushed pistachios while they are still sticky from the syrup.
Serve: Arrange the Turkish Lokma on a serving platter and enjoy warm or at room temperature.