Heat peanut oil in a saucepan over medium high heat. Add ground chicken and cook until browned, about 3-5 minutes, making sure to crumble the chicken as it cooks; drain excess fat.
While chicken is cooking combine in a separate bowl the peanut butter, soy sauce, teriyaki sauce, rice wine vinegar, honey, garlic powder, ginger paste and hibachi seasoning. Whisk together until sauce is combined.
Once chicken is browned, stir in water chestnuts, and cook 1-2 minutes; season with salt and pepper, to taste. Then stir in sauce mixture and simmer on low heat until sauce has blended well with chicken, about 2-3 minutes.
To serve, spoon several tablespoons of the chicken mixture into the center of a lettuce leaf, taco-style.