Preheat oven to 425 F.
Pat chicken wings dry with paper towels. Mix together cornstarch, salt, pepper and garlic powder.
Place wings in a big container with cover and mix with the cornstarch mixture. Shake until evenly coated. For best results, let the chicken sit in the refrigerator laid out on a baking sheet for an hour or so.
Bake chicken in the oven for 30 to 40 minutes until skin is crispy.
While chicken is baking, make the sauce. In a saucepan, heat olive oil. Add garlic and let cook for 1 minute. Add red pepper flakes if desired and bay leaf and cook a minute more. Add vinegar, soy sauce, sriracha, water and sugar. Let simmer until sauce is thick and the sugar is melted, about 10 minutes. Set aside.
Take chicken out of the oven when done and move to a large bowl. Add sauce and toss to coat. This is cooked and can be served right away or you can go to the next step to broil it if you want the sauce to stick to the wings more.
Place the chicken back on the sheet and broil for 5 minutes. Serve immediately.