Whisk the flour, paprika, garlic powder, onion powder and 1 teaspoon salt in a wide, shallow bowl. Beat the eggs with a splash of water in a second bowl. Combine the panko and coconut in a third bowl. Line a pan in foil and set aside.
Toss the shrimp in the flour mixture to coat; then, working one at a time, shake off the excess flour and dip the shrimp in the egg. Let the excess egg drip off, then toss the shrimp in the coconut-panko mixture until thoroughly coated. Put the shrimp on the lined pan and repeat with the remaining shrimp.
Heat the coconut oil in a large skillet over medium-high heat until very hot and a panko crumb dropped into it sizzles immediately. Line a plate with a paper towel. Add about half of the shrimp, making sure the skillet is not too crowded, and pan-fry, turning once, until the shrimp are cooked through and golden brown all over, 3 to 4 minutes; transfer to the lined plate and sprinkle with salt. Repeat with the remaining shrimp. Serve with the Spicy Mayo and lemon wedges.
Combine the mayonnaise, sriracha and lemon juice in a small bowl.