1 In a small bowl, combine the mayonnaise, sweet chili sauce and the chili-garlic hot sauce (optional). Set aside.
2 With a paring knife, slice down deep at the middle of the back of the shrimp, but do not cut all the way through. Discard the black vein/tract.
3 Set three shallow bowls side by side. Place flour in the first bowl; whisk the egg and coconut milk in the second; and combine the panko and coconut flakes in the third.
4 Heat 2 inches of oil in a sauté pan over moderate heat until thermometer registers 350°F.
5 As the oil is heating, bread the shrimp by dipping the shrimp on both sides in the flour and shaking excess off. Next dip in the egg/coconut milk mixture and then in the panko/coconut flakes, patting to ensure the coating sticks well.
6 Fry the shrimp in small batches for 2-3 minutes until golden brown on both sides. Serve with Sweet Chili Mayo for dipping.