Posted: 01/27/2009 - In a shallow dish, combine the flour, sugar, ground red pepper, and salt; mix well. In a medium bowl, beat together the eggs and water. Place the coconut in another shallow dish. Coat the shrimp with the flour mixture then with the egg mixture. Roll in the coconut, pressing the coconut firmly onto the shrimp to coat completely. In a large saucepan, heat the oil over medium heat. Cook the shrimp in batches for 1-1/2 to 2 minutes, or until golden, turning once during cooking. Drain on a paper towel-lined platter. Serve immediately.