01 - Combine chicken pieces with salt, pepper, lime juice, garlic, smoked paprika, cumin, and red pepper flakes in a bowl. Toss thoroughly, cover, and marinate for at least 15 minutes, up to 1 hour in the refrigerator for deeper flavor infusion.
02 - Heat olive oil in a large skillet or Dutch oven over medium-high heat. Add marinated chicken and sear for 2-3 minutes per side until golden brown, but do not cook through. Remove chicken to a plate and set aside.
03 - In the same pan, add onion, bell peppers, and jalapeño. Sauté for 5-7 minutes until vegetables begin to soften and develop slight color.
04 - Stir in diced tomatoes and tomato paste. Cook for 2-3 minutes until tomatoes start to break down and release their juices.
05 - Return chicken and any accumulated juices to the pan. Pour in coconut milk, stirring well to combine all ingredients. Reduce heat to medium-low, cover, and simmer for 20 minutes until chicken is cooked through and sauce has slightly thickened.
06 - Taste the sauce and adjust seasoning with salt, pepper, or additional red pepper flakes as desired. Serve hot, generously topped with fresh cilantro and accompanied by lime wedges. Pairs excellently with white rice or crusty bread.