In medium bowl, combine egg, 1/2 cup flour, beer and baking powder. Place 1/4 cup flour and coconut in two separate bowls.
Hold shrimp by tail and dredge in flour, shaking off excess flour. Dip in egg/beer batter, allow excess to drip off. Roll shrimp in coconut and place on a baking sheet lined with wax paper. Refrigerate for 30 minutes, meanwhile heat oil to 350º. (175º C) in a deep fryer.
Fry shrimp in batches - cook turning once for 2 to 3 minutes or until golden brown. Using thongs remove shrimp to paper towel to drain. Serve warm with dipping sauce.
1/2 cup orange marmalade
1/4 cup spicy brown mustard
1/4 cup honey
1/4+ tsp. horse radish