Butterfly the shrimp by inserting the knife 3/4 deep into the flesh from head to tail along the back, making sure not to cut all the way through. Open and flaten each shrimp and set aside.
Place the beaten egg into a bowl, then combine the shredded coconut, flour, salt and pepper into another bowl. Preheat a frying pan with the grape seed oil on medium high heat. Dip each shrimp first into the beaten egg and then into the coconut and flour mixture. Add the shrimp to the hot oil and fry for 1 minute on each side. Serve with Pina Colada sauce.