Traditional auxetic honeycomb structures often exhibit limited energy absorption capacity, particularly under large deformation conditions. This study proposes an anisotropic auxetic configuration—the re-entrant circular star-shaped honeycomb (RECSH)—to enhance energy absorption and reduce initial peak force. A comprehensive investigation involving experimental testing, theoretical modelling, and finite element (FE) simulations was carried out to evaluate the in-plane quasi-static compressive behaviour of RECSH. The results revealed a two-plateau deformation response, each of which exhibited a distinct stress plateau attributed to the structural support provided by the embedded circular geometry. A theoretical framework based on plastic dissipation was developed to predict plateau stresses, and the influence of key geometric parameters on deformation modes and energy absorption was systematically examined. A multi-objective optimisation strategy was used by a Kriging surrogate model and NSGA-II algorithm to identify an optimal configuration with improved crashworthiness. Compared with conventional designs, the optimised RECSH demonstrates enhanced specific energy absorption (SEA) and reduces initial peak stress (IPS) in both x- and y-directions. This novel auxetic structure offers promising potential for applications in impact mitigation and crash protection systems.