Prep the jalapenos: Rinse and dry the peppers. Slice into 1/4-inch-thick coins.
For less heat, use a small spoon or the tip of a knife to remove seeds and membranes from each slice. Leave some seeds if you like it spicy.
Set up your dredging station: In one shallow bowl, whisk together flour, cornstarch, garlic powder, onion powder, paprika, salt, and pepper. In a second bowl, beat the eggs with water or milk.
In a third bowl, mix panko with Parmesan (if using).
Coat the coins: Toss jalapeno slices in the flour mixture to lightly coat and shake off excess. Dip into the egg mixture, then press into the panko to coat both sides. Set coated coins on a plate or rack.
Preheat the air fryer: Heat to 380°F (193°C) for 3–5 minutes.
A hot basket helps the coating crisp quickly.
Arrange and spray: Lightly spray the air fryer basket with oil. Place coins in a single layer with a little space between them. Spray the tops with oil for even browning.
Air fry the first batch: Cook at 380°F (193°C) for 6–8 minutes, flipping halfway.
Spray again after flipping. They’re done when golden and crisp with a tender bite.
Season and repeat: Sprinkle with a pinch of salt right out of the air fryer. Repeat with remaining coins, keeping cooked ones on a wire rack to stay crisp.
Serve: Plate with lemon or lime wedges and your favorite dip.
Enjoy hot for the best texture.