In a mixing bowl, combine hoisin sauce, soy sauce, honey, Chinese five-spice powder, rice vinegar, minced garlic, and optional red food coloring. Add the chicken, cover with plastic wrap, and refrigerate for at least 1 hour or overnight.

Preheat your oven to 400°F (200°C) and line a baking tray with parchment paper. Allow the marinated chicken to come to room temperature.

Place the marinated chicken on the prepared baking tray and bake for 25 to 30 minutes, basting with leftover marinade halfway through.

Check the internal temperature of the chicken with a meat thermometer. It should reach at least 165°F (75°C) and the skin should be caramelized.

Remove the chicken from the oven and let it rest for a few minutes before slicing. Serve with steamed rice or stir-fried vegetables.