Heat coconut oil in shallow frying pan. In a bowl, mix flour, corn starch, cayenne pepper. Add egg and cold water. Stir to make a batter. Place shredded coconut in another bowl. Hold shrimp by tails and dip into batter, then coat with shredded coconut. Fry the shrimp on each side for 20 seconds or until golden brown.Serve with Thai Chili Sauce.