In a large bowl, sprinkle yeast over the water and allow to dissolve, about 5 minutes.
Stir in the milk, honey, oil, and egg. Add 2 cups of the flour and the salt, stirring just until combined. Add the remaining flour and stir until the dough is a fairly uniform, shaggy dough.
In a stand mixer with a dough hook attachment (or by hand, if preferred), knead dough on medium speed until dough is smooth and only slightly tacky, about 7-8 minutes. If the dough is too sticky, add up to 1/2 cup of additional flour.
Spray a large bowl lightly with baking spray and place dough inside, covering tightly with a sheet of Saran wrap. Allow to rest in a warm spot for about 1-1/2 hours, or until dough has risen and is approximately double in size.
Once risen, remove dough from bowl and separate into two equal pieces. Roll each sheet of dough on a lightly greased work surface into a 6”x20” rectangle. Whisk the egg with 2 teaspoons of water and brush this wash over the surface of each sheet of dough. Reserve the extra wash.
Combine the cinnamon and sugar in a small bowl and sprinkle the mixture evenly over the surface of each piece of dough. Sprinkle on the raisins as well.
Starting at one of the narrow ends, roll the dough snug up the length of the long ends of the rectangle until you’re left with a tube-shaped roll of dough. Pinch the ends to seal the dough closed. Place each loaf roll into their own greased loaf pan (8.5″ X 4.5″ X 2.75″). Cover with Saran wrap and allow to rise again for about 45 minutes, or until the dough has risen one inch over the top of the pan. Meanwhile, preheat the oven to 350 degrees.
Once risen, brush a thin layer of wash over the tops of each loaf. Bake for about 35 minutes, or until loaves have turned golden and sound slightly hollow when tapped on the top.
Allow to cool in pan for ten minutes and then remove to finish cooling on a cooling rack.