01 - Pat shrimp dry with paper towels and season evenly with salt and black pepper.
02 - Arrange three shallow bowls: flour in the first, beaten eggs mixed with water in the second, and a mixture of shredded coconut and panko in the third.
03 - Dredge each shrimp in flour, shake off excess, dip into egg mixture, then coat thoroughly with the coconut-panko mixture, pressing gently to adhere.
04 - Heat vegetable oil in a deep skillet or saucepan to 350°F (180°C).
05 - Fry shrimp in batches without overcrowding, cooking 1 to 2 minutes per side until golden brown and crispy. Remove with a slotted spoon and drain on paper towels.
06 - Combine sweet chili sauce, lime juice, and cilantro (if using) in a small bowl.
07 - Serve shrimp hot alongside the prepared sweet chili dipping sauce.