1) Someone who may appear as if they were a homosexual but only decides to squeeze other men's bun buns for simple humor. Most faggasexuals tend to be explicit in their conduct and are usually closer than you think.
2) A close friend who thinks of you as more than a friend. He/she tends to get closer to you than you would want, seeking individual pleasure for himself/herself.
The faggasexual walked across the street in pursuit of his best friend.