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