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Marinate the chicken: In a bowl, whisk together lime juice, olive oil, paprika, cayenne pepper, cumin, salt, and black pepper. Add the chicken pieces, toss well to coat, cover, and refrigerate for 30 minutes to 2 hours.
Cook the chicken: Heat 1 tbsp olive oil in a skillet over medium-high heat. Add the marinated chicken and cook for 5-7 minutes until golden and cooked through. Remove and set aside.
Prepare the sauce: In the same skillet, add remaining olive oil. Sauté onions and garlic for 2-3 minutes until soft. Add sliced bell peppers and cook for 5 minutes until slightly tender.
Combine and simmer: Lower heat to medium. Stir in coconut milk, chicken broth, tomato paste, and brown sugar. Return chicken to the skillet and simmer for 10-15 minutes until sauce thickens and flavors meld. Adjust seasoning if needed with salt, pepper, or chili flakes.
Serve: Plate the chicken and sauce over cooked white rice, garnish with fresh cilantro, and enjoy!
Serving and storage tips:
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