Peel shrimp and leave on tails. Rinse, pat dry and set aside.
Place parchment liner in air fryer basket (if applicable).
In a small bowl whisk together eggs and water. Place flour in a separate bowl and season with salt & pepper.
Dip shrimp in egg and gently shake off excess egg. Proceed to coat shrimp in flour.
Place flour covered shrimp in a single layer in air fryer basket. Spray the shrimp with coconut oil. Flip and coat the other side. You may need to cook the shrimp in batches. If so, only coat shrimp needed for each batch.
Set air fryer to 350 degrees and 4 minutes. Flip shrimp and cook an additional 2 minutes. Set cooked shrimp on a paper towel lined baking sheet until all shrimp are cooked. Air fryer times may vary. Consult your manual for recommended cooking times.
While shrimp is cooking, heat Frank's Red Hot Buffalo Sauce in a small sauce pan on medium heat. Once sauce starts to bubble turn heat to low to keep warm.
Place cooked shrimp in a large bowl and drizzle buffalo sauce on top. Toss to cover shrimp. Use as little or as much sauce as you like.