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In a bowl, toss the shrimp with olive oil, honey, garlic, ginger, red chili flakes, and salt. Set aside to marinate for 15 minutes at room temperature.
Melt butter over medium-high heat in a large non-stick skillet. When the butter is hot, add the shrimp with a pair of tongs. Leave the liquid from the shrimp inside the bowl and discard. Cook the shrimp for 1-2 minutes per side or until pink on the outside. Remove immediately to a clean bowl. Shrimp will be raw on the inside. If you have leftover liquid in the pan from the shrimp, drain it before adding butter in the next step.
Reduce the heat to medium and add butter to the skillet. Add shallots, white parts of scallions, and chili flakes. Cook for a few minutes until soft and fragrant. Stir in coconut milk and fish sauce. Season with salt to taste. Simmer until thickened, about 3-5 minutes.
Stir in lime zest, juice, and shrimp. Simmer for few minutes until the shrimp is cooked through. Do not overcook the shrimp. Add green parts of scallions and cilantro.