Marinate the pork: In a bowl, whisk hoisin, soy sauce, rice vinegar, honey, sesame oil, garlic, ginger, and red pepper flakes.
Add pork and toss to coat. Cover and let sit 15–30 minutes at room temp, or up to 8 hours in the fridge.
Start the rice: Rinse rice until water runs mostly clear. Add rice, water or broth, and butter to a pot.
Bring to a simmer, reduce heat to low, cover, and cook 12–15 minutes until tender. Remove from heat and let sit, covered, 5 minutes.
Preheat the air fryer: Set to 400°F (200°C) for 3–5 minutes. Lightly spray the basket with oil.
Air-fry the pork: Shake excess marinade off the pork pieces and arrange in a single layer.
Air-fry 8–12 minutes, shaking halfway, until edges caramelize and the internal temp reaches 145°F for tenderloin or 160°F if using ground pork. Thicker pieces may need a minute or two more.
Finish the rice: Fluff rice with a fork. Stir in chopped peanuts, peanut butter (if using), and soy sauce.
Taste and adjust salt if needed.
Assemble bowls: Spoon peanut rice into bowls. Top with hoisin pork, cucumber, carrots, green onions, and herbs. Sprinkle sesame seeds and squeeze lime over the top.
Optional glaze boost: If you like it saucier, warm 2 tablespoons hoisin with 1 tablespoon water and a squeeze of lime, then drizzle over the pork.