In a small bowl, mix the warm water with sugar and yeast. Let it sit for about 10 minutes until frothy.
In a large mixing bowl, combine the flour, salt, and sugar. Slowly add the yeast mixture and vegetable oil. Knead the dough until smooth and elastic.
Cover the dough with a damp cloth and let it rise in a warm place for about 1 hour, or until it has doubled in size.
Divide the dough into 8 equal portions. Flatten each portion into a small disc and spoon a dollop of lotus seed paste into the center. Seal the edges and shape into a bun.
Place the buns on individual pieces of parchment paper and let them rest for another 15-20 minutes.
Steam the buns in a steamer basket over boiling water for 15-20 minutes, or until they are cooked through.
Serve the lotus seed buns warm and enjoy!