Step 1Preheat oven to 160°C. Line a baking tray with baking paper. Place flour, salt and pepper in a bowl. Whisk eggs and 1/4 cup cold water in a second bowl, and combine breadcrumbs and coconut in a third bowl.
Step 2Coat squid in flour, then egg and lastly breadcrumb mixture. Place onto tray.
Step 3Half-fill a saucepan or wok with oil and heat over medium-high heat. To test oil is ready, a cube of bread should turn golden brown in 20 seconds. Cook crumbed rings, in batches, for 2-3 minutes or until golden. Transfer to a wire rack over a baking tray and keep warm in oven while cooking remainder. Serve with fries, salad, lemon wedges and sauce.