1. in a medium bowl - whisk together soy sauce, hoisin sauce, sesame oil, rice vinegar, peanut butter, honey, chili sauce, garlic powder, and ginger. - first 9 ingredients, can microwave 30 seconds until well blended. Set aside
2. Heat the peanut oil in a large skillet over med heat. Add the chicken and cook until no longer pink, breaking up the meat as it cooks. Add the onion, bell pepper and water chestnuts and cook for 3 to 5 minutes, until vegetables soften.
3. Add the sauce to the skillet and bring to a simmer. Redue the heat to low and simmer for 3 to 5 minutes, until the sauce thickens and reduces. Season to taste with salt and black pepper.