1. Set up a flour-egg-breading station by placing three shallow bowls in a row. In the first, whisk together the flour and seasonings until well blended. In a second bowl, beat two eggs and stir in a tablespoon or two of water until just foamy. Make the breading in a third bowl by stirring together the panko and unsweetened coconut.
2. Set a large cast-iron pan over medium-high flame and pour in the coconut oil. As the oil heats, bread the bluegill fillets by first dredging in flour, followed by egg wash and finally a good coating of the panko/coconut breading. Set the breaded fillets on a wire rack or plate and continue with the rest of the fillets.
3. Check the temperature of the oil by adding a pinch of flour to it. If it sizzles when it hits the pan, the oil is ready.
4. Fry the bluegill in batches, flipping the fillets once to brown each side. Depending on how thick the fillets are, this might only take a minute or two, so monitor the frying process closely. When fillets are browned, remove them to a paper-towel-lined plate to drain excess oil.