In a medium mixing bowl, whisk together peanut butter, soy sauce, fish sauce, lime juice, and honey or brown sugar until smooth.

Add minced garlic, grated ginger, red pepper flakes, and coconut milk; mix until well combined.

Place chicken thighs in a plastic bag, pour marinade over, seal, and refrigerate for at least 1 hour (up to 8 hours).

Preheat grill to medium-high heat (375°F).

Let marinated chicken sit at room temperature for 10 minutes before grilling.

Brush grill grates with vegetable oil, place chicken on grill, and cook for 6-7 minutes per side until golden brown and cooked to 165°F.

Baste with reserved marinade in the last few minutes of grilling.

Transfer cooked chicken to a cutting board, let rest for 5 minutes, then slice.

Serve sliced chicken with jasmine rice, garnish with cilantro, and lime wedges on the side.