Heat olive oil in a large deep skillet or Dutch oven over medium-high heat.
Season the chicken thighs with salt, black pepper, cumin, and chili powder on both sides.
Place the chicken thighs skin-side down in the hot oil and sear for 5-6 minutes until the skin is golden brown and crispy. Flip and cook for another 3 minutes. Remove chicken from the skillet and set aside.
Reduce heat to medium. Add diced onion to the skillet and sauté for 3-4 minutes until softened.
Add minced garlic and cook for 30 seconds until fragrant.
Add the rinsed rice to the skillet and stir to coat the rice with the oil and onion mixture.
Pour in the chicken broth and stir to combine. Bring to a simmer.
Return the chicken thighs to the skillet, placing them on top of the rice.
Cover the skillet with a lid and reduce heat to low. Cook for 20 minutes without lifting the lid.
After 20 minutes, remove the lid and scatter the frozen peas over the rice. Cover and cook for an additional 5 minutes until the rice is tender and the chicken is cooked through (internal temperature 165°F).
Remove the skillet from heat. Stir in chopped cilantro, lime zest, and lime juice into the rice.
Serve the chicken thighs over the cilantro lime rice, spooning extra rice alongside.