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For the shrimp: Peel the shrimp, leaving the tail on. Cut a shallow slit along the back, curved edge of the shrimp. Wipe or rinse away the vein. Place on a paper towel lined plate and pat very dry. Refrigerate until ready to use.
Meanwhile, place the flour on a plate. Whisk together the eggs and milk in a wide shallow bowl. Combine the coconut, panko, salt, pepper, and red chili flakes in another wide, shallow bowl. Working 3 to 4 pieces of shrimp at a time, dredge in the flour to coat completely, dip in the egg mixture, then coat in the coconut mixture. Set aside in a single layer on a sheet tray.
Meanwhile, heat a large skillet filled with the coconut oil and vegetable oil to be about about ¼-inch over medium-high until very hot (about 350 degrees). Place half of the shrimp in a single layer and cook until golden brown on one side, 30 to 60 seconds. Flip and cook for 30 to 60 more seconds, until the shrimp curves into a C-shape. Remove from the oil and transfer to a paper towel lined plate. Repeat with the remaining shrimp.
For the sauce: Whisk together marmalade, chili sauce, lime juice, and soy sauce in a small bowl.
Serve shrimp warm with the dipping sauce, and lime wedges, if you like.