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Whisk together marinade mix, oil, vinegar and 2 tablespoons water in a large bowl. Remove 3 tablespoons of the marinade and reserve for basting. Add shrimp to remaining marinade in bowl and toss to coat. Cover and refrigerate 30 minutes.
Place coconut in small flameproof skillet. Place skillet on grill over high heat and cook, shaking frequently, until the coconut is toasted in spots; about 3 to 4 minutes. Transfer toasted coconut to a clean plate lined with paper towels and allow to cool. Set aside.
Thread shrimp on wooden skewers, alternating the direction of the tail so the tail end of the second shrimp is directly above the head end of the first shrimp. Repeat with 4 additional shrimp on the same skewer, alternating the direction each time. Repeat with the remaining shrimp and skewers so you have 8 skewers of shrimp.
Tear off 2 large pieces of aluminum foil and fold each into a long rectangle. Arrange on grill about 12 inches apart. Place skewers on grill so that exposed wood on both ends of the skewers is resting on the foil (this will keep the skewers from burning). Grill until the undersides of the shrimp are pink and charred in spots; 3 to 4 minutes. Turn skewers and baste with reserved marinade. Grill until the undersides are pink and charred in spots; about 3 to 4 minutes longer. Transfer to platter.
Add cilantro and peanuts to coconut and toss to combine. Sprinkle coconut mixture over shrimp and serve with the lime wedges.
These shrimp are perfect for making Mojito-Lime Shrimp Tacos. Just remove the tails from the shrimp before skewering. Serve with flour tortillas, sour cream, lime, coconut, cilantro, and peanut topping.