In a mixing bowl, combine the flour, salt, garlic powder, black pepper, and cayenne pepper. In another bowl, beat the eggs. In a third bowl, mix panko breadcrumbs and shredded coconut to create a dredging station.

Dredge the shrimp by dipping them in the flour mixture, then eggs, and finally coating them with panko and coconut.

Heat the oil in a skillet over medium-high heat until it reaches 350°F.

Fry the breaded shrimp in batches for 2-3 minutes per side until golden brown.

Remove the shrimp using a slotted spoon and drain on paper towels. Serve immediately with dipping sauces.