Pat the prawns dry with a paper towel. Season with salt and pepper.
Heat olive oil in a large skillet or wok over medium-high heat. Add the prawns and sauté for 3 minutes per side, or until they turn pink and are cooked through. Remove the prawns from the skillet and set aside.
In the same skillet, add the minced garlic and chopped chili. Sauté for 2 minutes until the garlic is fragrant (be careful not to burn it).
Pour in the soy sauce, honey or sugar, and rice vinegar. Stir to combine and let the sauce simmer for 3 minutes to thicken slightly.
Return the prawns to the skillet and toss them in the sauce, cooking for an additional 2 minutes to coat the prawns evenly with the sauce.
Drizzle with sesame oil and serve immediately with rice or noodles. Garnish with fresh cilantro or green onions if desired.