Preheat the oven to 350°F (175°C). Line a muffin tin with paper cupcake liners.

In a large mixing bowl, combine 2 eggs, 1/2 cup coconut milk, 3 tablespoons honey, 1 teaspoon vanilla extract, 1/4 cup lime juice, and 1 tablespoon lime zest. Beat on high speed until the mixture is thick, frothy, and lightened in color.

Add 2 1/4 cups almond flour, 1 teaspoon baking soda, and 1/2 cup unsweetened shredded coconut to the wet mixture. Fold in gently by hand just until no dry streaks remain.

Divide the batter evenly among the prepared muffin cups.

Bake for 15–20 minutes, or until a toothpick inserted into the center of a cupcake comes out clean. Remove from the oven and transfer cupcakes to a wire rack; let them cool completely to room temperature before glazing.

For the glaze, combine 1/2 cup powdered coconut sugar, 1 tablespoon lime juice, and 1 teaspoon lime zest in a small bowl. Stir until smooth and pourable.

Drizzle the glaze over the cooled cupcakes. Allow the glaze to set before serving.