How to Make It
Stir together flour and pepper in a shallow dish. Lightly beat eggs in a second shallow dish. Stir together coconut and panko in a third shallow dish. Holding each shrimp by the tail, dredge shrimp in flour mixture, making sure not to coat tail; shake off excess. Dip in egg, allowing any excess to drip off. Dredge in coconut mixture, pressing to adhere. Coat shrimp well with cooking spray.
Place half of the shrimp in air fryer basket, and cook at 400°F until golden, 6 to 8 minutes, turning shrimp over halfway through cooking. Season with 1/4 teaspoon of the salt. Repeat with remaining shrimp and salt.
While shrimp cook, whisk together honey, lime juice, and serrano chile in small bowl. Sprinkle shrimp with cilantro, if desired. Serve with sauce.