01 - In a medium bowl, toss the shrimp with salt, white pepper, and Shaoxing wine. Let marinate for 10 minutes.
02 - In a mixing bowl, combine cornstarch, flour, egg, and cold water to make a smooth batter.
03 - Heat vegetable oil in a deep fryer or large saucepan to 350°F.
04 - Dip each shrimp into the batter, then coat lightly with shredded coconut.
05 - Fry the shrimp in batches for 2–3 minutes, or until golden and crispy. Transfer to a paper towel–lined plate.
06 - In a small saucepan over low heat, whisk together coconut milk, sweetened condensed milk, mayonnaise, honey, lemon juice, and soy sauce. Heat gently until just warmed and smooth, about 2 minutes. Do not boil.
07 - Toss the fried shrimp with the sauce in a large bowl until evenly coated.
08 - Garnish with toasted coconut and green onion. Serve immediately.