Stir together 1 pound ground turkey, 1/2 cup panko, 3 Tablespoons hoisin sauce, 1 large egg, the minced green onion, 1 Tablespoon minced cilantro, the minced garlic, 1 teaspoon grated ginger, 1/4 teaspoon kosher salt, and 1/4 teaspoon freshly ground black pepper (you can use either a large spoon or your hands to do this). Form the turkey mixture into 1 to 1 1/2-inch meatballs.
Spread the meatballs onto the prepared baking sheet. Bake for 18-20 minutes until the meatballs are cooked through.
Peanut Sauce
While the meatballs are cooking, start cooking the peanut sauce. Stir together 1 cup canned coconut milk, 1/4 cup hoisin sauce, 2 Tablespoons smooth peanut butter, 1 Tablespoon soy sauce, 1 Tablespoon grated ginger, the minced garlic, and 1/8 teaspoon red pepper flakes in a large saucepan or saute pan. Bring the mixture to a boil over medium-high heat. Reduce heat to medium-low and simmer until the meatballs are done cooking.
Stir the meatballs into the sauce, and continue to simmer until the sauce becomes slightly darker and thickened. Remove the saucepan from the heat and stir in 1 Tablespoon minced cilantro and 1 teaspoon lime juice. Serve over rice or noodles. Garnish with additional minced cilantro and lime wedges if desired.