Top-seed Konta defeated Shuai 6-2, 6-1 inside of an hour and became the first British woman to win a WTA title on home soil in over 40 years.
Sue Barker was the most recent British player to achieve the feat when she won the Brighton International in 1981.
The British No. 1 had lost her two previous finals in Nottingham, in 2017 and 2018, but victory on was her first title since winning the Miami Open in April 2017.
"I don't take this for granted by any means," Konta said after lifting the trophy. "I've lost a few finals in the last few that I've played and it's very hard to win tournaments so I know how lucky I am to be here with the winning trophy.
"I love Nottingham, I love this Centre Court, it's a beautiful court to play on and thank you everyone for coming out and supporting.
"This trophy is called the Elena Baltacha trophy -- she hasn't been with us for a number of years but still to this day she was a massive influence on me as a young girl in this country. For me, winning this trophy means that much more and I just wanted to say thank you to her."
Konta dominated the first set, showing a punishing serve throughout. She then raced through the second and final set, losing only just six points in the rest of the match after going a break up.