Rinse the large shrimp in cold water and pat them dry with paper towels. Set up your workspace with three shallow bowls: one filled with all-purpose flour, garlic powder, and salt mixed together, the second with lightly beaten large eggs, and the third with a blend of sweetened shredded coconut and panko bread crumbs.

Dredge each shrimp in the flour mixture, ensuring it's fully coated. Next, dip it into the beaten eggs until well-covered, allowing any excess to drip off. Finally, roll the shrimp in the coconut-panko mixture, pressing gently to ensure the coating adheres.

In a large pan, heat light olive oil or your preferred frying oil over medium heat, aiming for approximately 350°F. Test by dropping a small piece of bread in the oil; it should sizzle and turn brown in about 60 seconds.

Carefully add the coated shrimp to the hot oil, avoiding crowding the pan. Fry each shrimp for about 2 minutes on one side until they are golden brown, then flip and cook for an additional 2 minutes.

Using tongs, transfer the freshly fried coconut shrimp onto a plate lined with paper towels to absorb any excess oil. Allow the shrimp to cool slightly.

In a small bowl, combine sweet chili sauce and apricot preserves, stirring well until fully blended. This dipping sauce perfectly complements the coconut shrimp.

Serve the crispy coconut shrimp hot with wedges of lime on the side. Encourage everyone to squeeze fresh lime over each shrimp before dipping into the sauce.