In a medium bowl, combine chili powder, cumin, smoked paprika, garlic powder, onion powder, salt, and black pepper.
Add the shrimp to the spice mixture and toss to coat evenly.
Heat olive oil in a skillet over medium heat. Add the seasoned shrimp and cook for 2-3 minutes per side until pink and opaque. Remove from heat.
In a separate bowl, mix the cooked shrimp, diced green bell pepper, diced red onion, chopped cilantro, shredded cheese, and salsa.
Lay one flour tortilla flat on a clean surface. Spoon one-quarter of the shrimp mixture onto the center of the tortilla.
Fold the sides of the tortilla inward, then roll it tightly from one end to form a chimichanga. Repeat with remaining tortillas and filling.
Preheat the air fryer to 400°F (200°C) for 5 minutes.
Lightly spray each chimichanga with cooking spray to help them crisp up.
Place the chimichangas seam side down in the air fryer basket, leaving space between them.
Air fry for 10-12 minutes, flipping halfway through, until the tortillas are golden brown and crispy.
Remove from the air fryer and let cool for 2 minutes before serving.