In a large heavy-bottomed pot, heat 2-inches of vegetable or canola oil over medium-high heat.
Meanwhile, set out two shallow dishes and one small mixing bowl. In one of the dishes, scatter in ¼ cup of the all-purpose flour. In the small bowl, combine the remaining flour, the garlic powder, baking powder, and salt and whisk in the beer and egg. In the final shallow dish, stir together the panko and coconut.
When the oil is hot enough quickly brown a sprinkling of panko (but not burn), dredge the shrimp in the flour until well coated. Shake off any excess flour and, while holding the shrimp by the tail, dunk them one at a time into the beer batter to coat in a thin layer and then roll in the coconut panko mixture.
Fry the shrimp in the hot oil, flipping occasionally, until golden brown, about 2 to 3 minutes. Using tongs or a slotted spoon, remove the golden brown shrimp to a paper towel lined sheet pan to cool slightly.
Serve warm with sweet chili sauce or classic cocktail sauce for a tropical tasting snack!