Trim any excess fat or sinew from the chicken thighs. Place the chicken pieces into a large, non-reactive bowl or a resealable plastic bag.

In a separate medium bowl, whisk together all the Char Siu Marinade ingredients: honey, hoisin sauce, soy sauce, rice wine, brown sugar, oyster sauce, sesame oil, five-spice powder, minced garlic, grated ginger, and red food coloring (if using). Whisk until the sugar is fully dissolved.

Pour three-quarters (3/4) of the marinade over the chicken. Gently massage the marinade into the chicken pieces until they are thoroughly coated. Reserve the remaining one-quarter (1/4) cup of marinade in an airtight container and refrigerate it. This reserved mixture will be used for the final glaze.

Cover the bowl or seal the bag and refrigerate the chicken for a minimum of 4 hours, and preferably overnight (12 to 24 hours) for the deepest flavor penetration.

Place the reserved 1/4 cup of marinade into a small saucepan. Bring the mixture to a rapid boil over medium-high heat. Reduce the heat and simmer for 2 to 3 minutes, stirring constantly, until the mixture thickens slightly into a thick syrup consistency. Remove the glaze from the heat and set it aside to cool slightly.

Preheat your oven to 400°F (200°C). Line a large baking sheet with aluminum foil for easy cleanup. Place a wire rack inside the foil-lined baking sheet. Remove the chicken from the marinade and arrange the pieces on the prepared wire rack. Discard the leftover marinade the chicken soaked in.

Place the baking sheet on the center rack of the preheated oven. Bake the chicken for 15 minutes.

After the initial 15 minutes of baking, remove the tray from the oven. Brush the tops of the chicken pieces generously with the prepared, simmered glaze. Return the chicken to the oven and continue baking for another 8 to 12 minutes, or until the chicken reaches an internal temperature of 165°F (74°C). The glaze should look dark, glossy, and slightly caramelized.

For extra color and char, you may place the chicken under the broiler for the last 1 to 2 minutes, watching carefully to prevent burning.

Remove the Char Siu Chicken from the oven and let it rest on the wire rack for 5 to 10 minutes before slicing. Slice the chicken thickly against the grain and serve immediately over steamed rice, noodles, or alongside stir-fried vegetables.