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Preheat a 6 ½-quart air fryer to 390°F for 5 to 10 minutes. Place flour in a shallow bowl. Lightly whisk eggs in a separate shallow bowl. Mix together panko, coconut, sugar, and salt in a third shallow bowl.
Meanwhile, toss half of the raw shrimp in flour to coat completely. Remove shrimp from flour, gently shaking to remove excess flour, and transfer to bowl with eggs; turn to coat. Lift shrimp from eggs, allowing excess to drip back into bowl, and add to panko mixture. Turn shrimp to coat, pressing lightly to adhere.
Generously coat preheated air fryer basket with cooking spray. Place dredged shrimp in air fryer basket; generously coat shrimp with cooking spray. Cook shrimp until golden brown, crispy, and just cooked through, about 5 minutes and 30 seconds, turning shrimp once and re-coating shrimp with cooking spray halfway through cook time. While shrimp are cooking, repeat dredging process with remaining raw shrimp. Transfer cooked shrimp to a platter, and repeat cooking process with remaining dredged shrimp.
Stir together sweet chili sauce and 1 ½ tablespoons of the cilantro in a small bowl until combined. Sprinkle cooked shrimp evenly with remaining ½ tablespoon cilantro. Serve shrimp alongside sauce.