In a mixing bowl, combine diced chicken, coconut milk, lime juice, lime zest, cumin, paprika, garlic powder, cayenne, salt, and pepper. Stir well to coat the chicken. Cover and let marinate in the fridge for at least 30 minutes, or up to 2 hours for more flavor.
Heat a skillet over medium heat. Pour the marinated chicken and coconut mixture into the hot skillet. Cook for about 10-12 minutes, stirring occasionally, until the chicken is fully cooked and the sauce has thickened slightly.
While the chicken cooks, warm the corn tortillas in a separate pan over low heat for about 30 seconds on each side or until pliable.
Once the chicken is done, remove it from heat and assemble the tacos. Place a generous spoonful of the coconut-lime chicken onto each tortilla.
Top the chicken with shredded red cabbage, chopped cilantro, and sliced avocado.
Serve the tacos warm with lime wedges on the side for squeezing.