Season the chicken breasts with salt and pepper.
Heat olive oil in a skillet over medium-high heat.
Sear the chicken breasts for 5–6 minutes per side, or until golden brown and cooked through (internal temperature of 165°F). Remove from the skillet and set aside.
In a mixing bowl, whisk together peanut butter, soy sauce, coconut milk, garlic, ginger, lime juice, honey, and red pepper flakes until smooth.
Pour the peanut sauce into the skillet and cook over medium heat, stirring frequently, for 2–3 minutes until it thickens slightly.
Return the chicken breasts to the skillet, spoon the sauce over them, and let them simmer for 2–3 minutes to absorb the flavors.
Serve hot with your choice of sides.