Make the sauce first. Whisk together mayonnaise, sweet chili sauce, sriracha, honey, and rice vinegar in a bowl. Set aside.
Set up your breading station. Place cornstarch in one shallow bowl, beaten eggs in a second, and panko mixed with garlic powder, onion powder, paprika, salt, and pepper in a third.
Bread the shrimp. Dredge each shrimp in cornstarch first, shaking off the excess, then dip into the egg, then press firmly into the seasoned panko.
Preheat your air fryer to 400°F (200°C) for about 3 minutes.
Arrange shrimp in a single layer in the air fryer basket. Don't crowd them — work in batches if needed. Spray generously with cooking spray.
Air fry for 8–10 minutes, flipping halfway through, until golden brown and crispy. Spray again after flipping.
Toss or drizzle the cooked shrimp with the bang bang sauce. I personally love drizzling it on top so the shrimp stay extra crispy.
Garnish with sliced green onions and a sprinkle of sesame seeds if you're feeling fancy. Serve immediately!