I've looked all over Chapter 31 (laws related to weapons/explosives) of the ARS Title 13.
1) The Arizona Revised Statute Title 13 uses the term
deadly weapon constantly. It defines
deadly weapon as, "anything that is designed for lethal use. The term includes a firearm."
So it isn't clear on whether or not a knife, or a particular kind of knife, is considered a deadly weapon (designed for lethal use). Certain sections do exclude
pocket knives from inclusion as deadly weapons, such as 13-3102, shown above. Problem is...
2) The Title 13 doesn't define
pocket knife. I would think a balisong would be considered a pocket knife, but unfortunately, it's left open to interpretation by a judge.
I've heard that AZ doesn't restrict the carry of
any knife, and I certainly can't find legislation disproving that claim.
The best end-all answer I can give you is that based on what I can find in the Arizona criminal code, you can conceal virtually
any weapon in AZ, so long as you're over age 21, not a prohibited possessor (outlined
here, in section 7 - nothing about age in the section), and the weapon itself isn't prohibited (outlined
here, in section 8 - nothing about knives in the section). The exception is a pocket knife - which is undefined - but doesn't have a minimum age for concealed-carry.