Combine coconut and panko in a food processor and pulse repeatedly several times until coconut is fine and no longer stringy and mixture resembles coarse crumbs. Pour into a bowl and set aside.
Crack your eggs in a separate bowl and beat with a whisk until scrambled. Set aside.
In another bowl, combine flour, table salt, garlic powder and cayenne and whisk to combine.
Place your shrimp on a wax paper lined baking sheet, pat all over with paper towels to dry, and sprinkle all over with Kosher salt.
Hold the shrimp by the tail and dredge in the flour mixture until shrimp is entirely coated in flour (excluding the tail, try to keep that tidy).
Dip the shrimp in the beaten egg, let the excess egg drip off back into the bowl, then dredge in the coconut/panko mixture. Make sure to thoroughly coat with the coconut mixture so the shrimp is entirely covered.
Return to baking sheet. Once all shrimp have been dredged, place in the refrigerator while you heat your oil.
Heat the oil: Fill a large heavy-bottomed pot (I like to use a Dutch oven) 2-3” (6.5cm) with vegetable oil and fix a thermometer to the side to monitor the temperature (make sure the bottom of the thermometer is not touching the side or bottom of the pot). Turn stovetop heat to medium and heat to 375F (190C). While oil is heating, line a cookie sheet with paper towels (2-3 sheets deep) and set aside.
Once oil reaches temperature, remove shrimp from the refrigerator. Working in batches of just 2-3 at a time, carefully lower the shrimp into the oil using a frying spider and cook until golden brown. Remove shrimp using frying spider to prepared cookie sheet.
Repeat the frying process with remaining shrimp until all have been cooked. Make sure to allow oil to return to temperature between batches and monitor the temperature of the oil as you cook.
Serve immediately with or without optional dipping sauce.
Dipping sauce: Place apricot preserves in a small microwave-safe dish and microwave in 5-second intervals until it is fluid and easily stirred with a whisk.
Add sweet chili sauce and whisk until combined. Serve immediately with shrimp.