Preheat oven to 400°F (200°C). Line a baking sheet with foil and place a rack on top if available.
Pat chicken thighs dry with paper towels.
Rub chicken with olive oil and season with salt, pepper, garlic powder, smoked paprika, and onion powder.
Place chicken on baking sheet and bake for 25–30 minutes.
While chicken bakes, mix BBQ sauce, honey, vinegar, Worcestershire sauce, and chili powder in a bowl.
Remove chicken from oven and brush generously with BBQ glaze.
Return to oven and bake for another 15–20 minutes, until fully cooked and caramelized.
Optional: Broil for 2–3 minutes for extra sticky, charred glaze (watch carefully).
Let chicken rest for 5 minutes before serving.