Heat oven to 425°F. Line large cookie sheet with foil; lightly spray foil with cooking spray. In food processor, place coconut, bread crumbs, salt and ground red pepper; process 10 seconds to mix slightly. Place in pie pan or shallow dish.
Pat shrimp dry with paper towels; place in medium bowl. In 1-quart saucepan, heat honey over low heat just until melted. Pour over shrimp; toss to coat. Roll shrimp in coconut mixture to coat; place in single layer on cookie sheet.
Bake 9 to 12 minutes or until shrimp turn pink and coconut begins to brown.
In small serving bowl, mix sauce ingredients. Arrange shrimp on serving platter; serve with sauce.