Preheat oven to 375° Fahrenheit. Position oven racks as needed so skillet will sit in center of oven.
Add 1 teaspoon garlic powder, 4 cloves garlic, 3 tablespoons sriracha, ½ cup honey, 2 tablespoons water, ¼ cup low-sodium soy sauce to medium mixing bowl. Whisk ingredients together until completely incorporated, then set bowl aside.
Place 6 medium bone-in, skin-on chicken thighs on cutting board. Pat chicken thighs completely dry on all sides with paper towels, then liberally season all sides of chicken thighs with salt and freshly cracked black pepper. Set aside.
Place large skillet on stovetop over medium-high heat. When skillet is hot, place chicken thighs in skillet skin-side down. Sear chicken 7 to 8 minutes or until skin is golden and easily releases from pan when chicken is moved. If skin sticks to pan, continue searing until skin releases easily.
Roast chicken thighs 10 minutes. After 10 minutes, insert internal meat thermometer into thickest areas of chicken to check doneness. Return skillet to oven and continue roasting chicken 3 to 5 minutes or as needed until thermometer indicates internal temperature of 162° to 163° Fahrenheit.
When chicken thighs reach desired internal temperature, carefully remove skillet from oven. Transfer chicken thighs to large plate and set aside to rest 5 minutes.
Meanwhile, return skillet to stovetop. Simmer sauce in skillet over medium heat until sauce has thickened to desired consistency. Stir sauce as needed to prevent sticking or burning.
When sauce has thickened, remove skillet from heat. Return chicken to skillet. Spoon sauce in skillet onto tops of chicken thighs, covering chicken thighs completely, then transfer chicken thighs to serving plates. Serve chicken immediately with additional honey-sriracha sauce and preferred sides.