Mix the cumin, coriander, garlic powder, onion powder, paprika, salt, and pepper in a small bowl. Rub this spice mixture evenly over both sides of the chicken breasts, then drizzle with fresh lime juice. Let it sit for a couple minutes.

Heat olive oil in a large skillet over medium heat (about 350°F) until shimmering. Add the seasoned chicken breasts and cook for 6-7 minutes per side until golden brown and internal temperature reaches 165°F. Remove from pan, place on a plate, and let rest.

Without washing the skillet, add coconut oil over medium heat. Add diced onion and cook until softened, about 3 minutes. Add minced garlic and grated ginger if using, stirring constantly for 1 minute until fragrant.

Add rice to the skillet and stir to coat with the aromatic oil mixture. Pour in coconut milk and water, stirring well. Bring to a gentle simmer.

Once simmering, reduce heat to low and cover with a tight-fitting lid. Let rice cook undisturbed for 15-18 minutes until liquid is absorbed and rice is tender. Remove from heat and let sit covered for an additional 5 minutes off the heat.

Fluff coconut rice with a fork and divide onto four plates. Slice the rested chicken and arrange over rice. Garnish with fresh cilantro, toasted coconut if using, and lime wedges. Serve immediately.