In a medium bowl, combine shrimp with salt, black pepper, sweet paprika, and garlic powder. Toss well to coat.

Heat a skillet over high heat, add olive oil and butter. Once melted, add shrimp in a single layer and sear for about 1 minute on each side.

Lower the heat to medium, add minced garlic and diced onion, and sauté for 3 minutes until translucent.

Pour in three-quarters of the coconut milk, mixing the remaining with cornstarch before adding it to the pan. Stir in fish sauce, honey, and lime juice. Simmer for 2 minutes.

Add chopped cilantro and return seared shrimp to the skillet. Gently toss to coat in the sauce and simmer for an additional minute.

Transfer to serving plates and garnish with additional cilantro, chili flakes, and freshly cracked black pepper. Serve immediately.