In a large pan, heat olive oil. Once heated, add panko and salt and pepper to taste. Cook stirring often until panko is nice and browned. Remove from pan and pour into a shallow bowl. To the bowl, add the garlic powder, onion powder, oregano, cayenne, salt and pepper.
In another bowl, whisk the egg and water. In a third bowl, the flour with salt and pepper. Working in batches and using tongs, add the chicken to the flour mixture and fully coat. Shake off excess then coat in egg. Let excess drip off then fully coat in panko mixture. Making sure to get all sides. Time to air fry.
Spray the inside of the air fryer basket with olive oil spray. Add enough chicken pieces to fill the bottom but don't overcrowd. Work in batches. Fry at 400° for 5 minutes, shaking once in the middle of cooking time.
Serve with ranch, spicy honey, ketchup, mustard or bbq sauce. Enjoy!