Season the chicken pieces with salt and black pepper.
In a large skillet or frying pan, heat the olive oil over medium-high heat. Add the chicken pieces and cook until browned on all sides, about 5-7 minutes. Remove the chicken from the skillet and set aside.
In the same skillet, add the chopped onion and cook until translucent, about 3-4 minutes.
Add the minced garlic and cook for another 1 minute until fragrant.
Add the sliced red and yellow bell peppers and cook until they start to soften, about 5 minutes.
Stir in the ground cumin, ground coriander, paprika, and cayenne pepper. Cook for 1-2 minutes until the spices are fragrant.
Add the tomato paste and cook for another 1 minute.
Pour in the coconut milk and diced tomatoes, stirring to combine. Bring the mixture to a simmer.
Return the browned chicken pieces to the skillet, stirring to coat them in the sauce.
Reduce the heat to medium-low and simmer the chicken in the sauce until fully cooked and tender, about 15-20 minutes. Stir occasionally to prevent sticking.
Once the chicken is cooked through and the sauce has thickened slightly, remove the skillet from the heat.
Garnish the Spicy Brazilian Coconut Chicken with fresh chopped cilantro and serve with lime wedges on the side.
Serve the dish over rice, quinoa, or with a side of crusty bread to soak up the delicious sauce.