01 - Combine chicken pieces with salt, pepper, lime juice, garlic, smoked paprika, cumin, and red pepper flakes in a bowl. Toss well to coat, cover, and marinate for at least 15 minutes or up to 1 hour in the refrigerator for deeper flavor penetration.
02 - Heat olive oil in a large skillet or Dutch oven over medium-high heat. Add marinated chicken pieces and sear for 2-3 minutes per side until golden brown develops. Remove chicken to a plate, leaving juices in the pan.
03 - Add onion, bell peppers, and jalapeño to the same pan. Sauté for 5-7 minutes until vegetables begin to soften and onions become translucent.
04 - Stir in diced tomatoes and tomato paste. Cook for 2-3 minutes, stirring frequently, 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 to incorporate everything evenly. 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 additional salt, pepper, or red pepper flakes as desired. Serve hot, generously topped with fresh chopped cilantro and accompanied by lime wedges. Pairs excellently with white rice or crusty bread.