In 3 separate bowls place the flour, the beaten egg and the coconut. Season the flour well with salt and pepper.
Begin by dipping the prawns into the egg, then the flour. Back into the egg and then the coconut. Repeat the process.
When all the prawns are coated, place on a plate, cover and chill for at least 1/2 hour. Meanwhile, make the dipping sauce by combining the mayonnaise, curry paste and chutney. Place into 4 small dipping bowls and chill.
When ready to cook, heat the oil in a wok or deep fryer. When at correct temperature add the prawns a few at a time and cook, turning constantly, until golden brown, 5 to 8 minutes. Drain on absorbent paper. Repeat with remaining prawns.