In a shallow bowl, combine flour with salt, pepper, garlic powder, and smoked paprika.
In another shallow bowl, combine Panko bread crumbs, shredded coconut, and lime zest.
Place beaten eggs in a third shallow bowl.
Preheat Air Fryer to 400 degrees F.
Working with one at a time, dip shrimp first in the flour mixture, then into the beaten eggs, then in the coconut mixture.
Place shrimp in the basket of the air fryer, do NOT overcrowd and bake until golden and cooked through, 10 to 12 minutes if using raw shrimp, and 5-7 minutes if using cooked shrimp. Work in batches as necessary.
In a small bowl, combine sauce ingredients, stir to combine.
Serve shrimp immediately with the dipping sauce and lime wedges.