Prepare the shrimp by peeling and deveining them. Use a paper towel to pat the shrimp dry and add them to a mixing bowl. Toss the raw shrimp with salt, pepper, and paleo flour until the shrimp has a lightly seasoned coating all over. Set the shrimp aside. Additionally, in a small bowl, whisk together the egg yolk and water. Set this bowl next to your shrimp.
In a food processor or blender, pulse whole coconut flakes and almond flour together until you have finely ground coconut-almond flour. Spread the coconut almond flour out on a clean plate to bread the shrimp. Now, turn your air fryer on the preheat to 350 degrees. One by one, dip a shrimp in the egg yolk, let the excess egg drip off, then roll the shrimp in the coconut almond flour until fully coated in breading. Arrange all the breaded shrimp on your air fryer tray.
Cook the shrimp in your air fryer for 12-14 minutes. The shrimp will cook quickly, but look for a beautiful golden brown and crispy breading with slightly darker edges where the coconut fried to know they’re done. While your shrimp is in the air fryer, quickly whisk together the spicy honey sauce with the mayonnaise, Sriracha (or equivalent chili sauce), honey, and olive oil. Let the shrimp cool for a few minutes before you either dip them in sauce or toss them in the spicy honey sauce at your discretion.