Prep oil. Preheat the frying oil, to 365 degrees, either in a deep fryer or heavy bottomed pot with a candy thermometer.
Prep shrimp. Pat the shrimp dry with paper towels and season with salt and pepper.
Prep battering station. Prepare three bowls: 1 with the flour, one with the beaten eggs, and one with the panko and coconut mixed together. Dip the shrimp, a few at a time, first into the eggs, then the flour, then the panko/ coconut mix.
Fry. Check the oil temperature and fry in batches about 1-2 minutes per side. The shrimp should be in a single layer on the basket with plenty of room between them. If using a deep fryer, there is no need to turn them, and they will be done in about 2-3 minutes. Remove to a paper towel-lined plate to drain.
Serve. Serve immediately with sweet Thai chili sauce.