In a spacious mixing bowl, combine the paprika, smoked paprika, kosher salt, garlic powder, and black pepper. Pat the chicken thighs thoroughly dry on both sides to ensure crispiness, then place them in the bowl. Drizzle the thighs with olive oil and toss them until they are evenly coated with the spice blend.
Preheat your air fryer to 400°F. Arrange the chicken thighs in a single layer, skin-side down, making sure they do not overlap; if necessary, cook in batches to avoid crowding. Air fry the chicken for 16 to 22 minutes, turning them over halfway through the cooking time. The chicken is done when an instant-read thermometer inserted into the thickest part of the thigh (without touching the bone) registers 155°F. Remove the thighs from the air fryer, cover them loosely, and let them rest for 5 minutes. During this time, the internal temperature will rise to the FDA-recommended 165°F.
Serve the chicken hot, garnished with lemon wedges for squeezing over the top and a sprinkle of fresh parsley or cilantro. Enjoy!