Preheat oven to 400 degrees F (200 degrees C). Place a wire rack on a rimmed baking sheet.
Place panko bread crumbs, seasoned bread crumbs, coconut, cayenne pepper, and thyme in the bowl of a food processor. Pulse until coconut resembles size of bread crumbs. Transfer to a flat bowl or dish.
Whisk egg and sriracha sauce together in a separate bowl.
Dip chicken pieces in crumb mixture. Coat all sides with egg mixture. Roll again in crumb mixture and place on the prepared rack. Repeat for all chicken pieces.
Bake in the preheated oven until browned and crisp, about 20 minutes.