Heat the olive oil in a large skillet or Dutch oven over medium heat. Add the chopped onion and sauté until translucent, about 3-4 minutes. Stir in the garlic and cook for another minute until fragrant.

Toss in the red and yellow bell peppers. Sauté for about 5 minutes until they soften slightly.

Add the chicken pieces to the pan, along with paprika, cumin, turmeric, chili flakes, salt, and pepper. Stir well and let the chicken sear for 4-5 minutes until it starts to brown.

Stir in the tomato paste and pour in the coconut milk. Bring to a gentle simmer, then reduce heat to low. Let it cook uncovered for about 20-25 minutes, stirring occasionally, until the chicken is fully cooked and the sauce has thickened slightly.

Just before serving, squeeze in fresh lime juice and give it a final stir. Garnish with chopped cilantro.

Spoon the chicken and sauce over fluffy white rice.