01 - In a medium bowl, combine shrimp with salt, white pepper, and Shaoxing wine. Let marinate for 10 minutes to absorb flavors.
02 - In a mixing bowl, whisk together cornstarch, flour, egg, and cold water until smooth and lump-free.
03 - Heat vegetable oil in a deep fryer or large saucepan to 350°F.
04 - Dip each marinated shrimp into the batter, allowing excess to drip off, then press lightly into shredded coconut to coat evenly.
05 - Fry shrimp in batches for 2-3 minutes until golden brown and crispy. Remove with a slotted spoon and drain on paper towels.
06 - In a small saucepan over low heat, whisk together coconut milk, sweetened condensed milk, mayonnaise, honey, lemon juice, and soy sauce. Heat gently for 2 minutes until smooth and warmed through. Do not boil.
07 - Transfer fried shrimp to a large bowl and pour sauce over top. Toss gently until evenly coated. Garnish with toasted coconut and sliced green onions. Serve immediately.