This paper develops an algorithmic solution using Ising machines to solve large-scale higher-order binary optimization (HOBO) problems with inequality constraints for resource optimization in wireless communications systems. Quadratic unconstrained binary optimization (QUBO) aims to solve a special category of these problems widely encountered in engineering and science. To solve QUBO instances, specialized Ising machines have been designed, while sophisticated quantum annealing algorithm and quantum-inspired classical heuristics have been developed. However, the application of QUBO in wireless communications has limited practical interest mainly due to the complexity of resource optimization problems which are often characterized by high-order polynomial terms and strict inequality constraints. To overcome these bottlenecks and take advantage of recent advancements in Ising machines, in this paper, we propose an iterative algorithmic solution to solve HOBO problems, which is based on the augmented Lagrangian method to handle constraints. Specifically, Taylor expansion is employed to approximate higher-order polynomials to quadratic ones in the augmented Lagrangian function, which enables the solution of a single QUBO problem at each iteration without auxiliary variables. As an illustrative case study, we consider the problem of phase optimization in a simultaneous wireless information and power transfer system, where a reconfigurable intelligent surface with 1-bit phase resolution is used to facilitate information/energy transfer. Simulation results verify that the proposed algorithm achieves satisfactory performance and outperforms heuristic benchmark schemes.