Preheat your air fryer to 380°F (193°C). Pat chicken thighs dry with paper towels.

In a small bowl, combine salt, black pepper, paprika, garlic powder, and onion powder. Rub chicken thighs with olive oil, then season all sides with the spice mixture.

Place chicken thighs skin-side down in the air fryer basket, ensuring they don't overlap. Cook for 12 minutes, then flip and cook for another 10-12 minutes until internal temperature reaches 165°F (74°C).

While chicken cooks, preheat oven to 425°F (220°C). In a large mixing bowl, whisk together flour, baking powder, salt, and sugar.

Add cold cubed butter to the flour mixture. Use a pastry cutter or two forks to cut butter into flour until mixture resembles coarse crumbs with some pea-sized butter pieces.

Make a well in the center and pour in cold buttermilk. Gently stir with a fork until dough just comes together - don't overmix.

Turn dough onto a lightly floured surface and gently pat into a 3/4-inch thick rectangle. Cut straight down with a floured biscuit cutter or glass - don't twist.

Place biscuits on a baking sheet with sides touching. Brush tops with melted butter and bake for 15-17 minutes until golden brown on top.

Let chicken rest for 5 minutes after cooking. Serve hot chicken alongside warm biscuits with butter and honey if desired.