In medium bowl, combine egg, flour, beer, baking powder, 1/2 cup coconut, sugar, and salt. Cover tightly and chill batter overnight.
Place flour and 2 cups of coconut in two separate bowls. Hold shrimp by tail, and dredge in flour, shaking off excess flour. Dip in beer batter; allow excess to drip off. Roll shrimp in coconut, and place on a baking sheet lined with wax paper. Refrigerate for one hour.
Heat oil to 350 degrees F in a deep-fryer or medium-sized pot.
In a small bowl combine orange marmalade, mustard, horseradish, salt, and honey. Set aside. Serve as dipping sauce for coconut shrimp.
Fry shrimp in batches: cook, turning once, for 2 to 3 minutes, or until golden brown. Using tongs, remove shrimp to paper towels to drain. Serve warm with dipping sauce.