Begin by organizing your workspace with three shallow bowls. In the first bowl, combine seasoned flour with salt and pepper. In the second, beat two eggs until smooth. In the third bowl, mix together panko breadcrumbs and shredded sweetened coconut.

Take each shrimp and dip it into the seasoned flour, gently shaking off any excess flour. Next, immerse the shrimp in the beaten egg, ensuring it's fully coated. Finally, roll the shrimp in the panko-coconut mixture, pressing down gently for an even coating.

Preheat your air fryer to 400°F (200°C) for about 5 minutes. Place the coated shrimp in a single layer in the air fryer basket, and cook for 7 to 9 minutes, flipping halfway through. They're done when golden brown and cooked through.

While the shrimp cooks, mix together mayonnaise, Sriracha, and Thai sweet chili sauce in a small bowl. Stir until well-combined and adjust the heat to your liking, adding more Sriracha if desired.

Once cooked, carefully arrange the Air Fryer Coconut Shrimp on a serving platter. Serve alongside the spicy Sriracha mayo and garnish with lime wedges or fresh herbs.