Melt coconut oil in small stainless steel pan.
Add eggs and whisk together.
Add water, salt, vanilla extract, almond flour, and whey protein powder, beating well after each addition.
Melt butter in medium-sized skillet over low heat.
Pour 1/2 of batter into pan.
Once edges have set and begun to turn light golden brown, flip over with a spatula.
Cook on the other side for 1–2 minutes and transfer to plate.
Repeat with remaining batter.
Mix cinnamon and sweetener in small bowl.
Top each pancake with butter and cinnamon mixture.