Heat the oil in your skillet on medium heat until ready to fry (350°F). Note: You don’t want the oil to be too hot or it will burn the coconut quickly before the shrimp are cooked.
In a small bowl, combine the flour, garlic powder, onion powder and chili powder.
In another small bowl, mix the crumbs with coconut.
Set up a dredging station with the flour mixture, egg, and coconut mixture.
One by one, coat the shrimp in flour, then egg, then coconut making sure to completely cover the whole shrimp in each. Don’t be afraid to press the coconut onto the shrimp to make it stick. Holding the shrimp by the tail is convenient but you can also use tongs or a fork. Set the shrimp aside on a wire rack or cutting board.
Using a fork or tongs, lower the shrimp in the oil and fry in batches of 6-7 (depending on the size of the pan). Shrimp cooks fast so keep an eye on it, it should take about 4 minutes flipping halfway through.
Once cooked, place the shrimp on a wire rack with a paper towel lined tray or plate under it to drain the excess oil and set aside. (Note: The wire rack prevents the shrimp from sitting in its own oil and getting soggy.)
Whisk together the chili sauce, mayo, and preserves. Serve the shrimp warm with sauce and limes.