01 - Pat shrimp dry with paper towels and season evenly with salt and black pepper.
02 - Set up three shallow bowls: flour in the first, beaten eggs mixed with water in the second, and shredded coconut combined with panko breadcrumbs in the third.
03 - Dredge each shrimp in flour, shaking off excess, dip into the egg mixture, then coat thoroughly with the coconut-panko blend, pressing gently to adhere.
04 - Warm vegetable oil in a deep skillet or saucepan over medium-high heat until it reaches 350°F (180°C).
05 - Fry shrimp in batches for 1 to 2 minutes per side until golden and crisp. Avoid overcrowding the pan. Remove with a slotted spoon and drain on paper towels.
06 - Combine sweet chili sauce, lime juice, and cilantro in a small bowl and mix well.
07 - Present the crispy shrimp hot alongside the sweet chili dipping sauce.