In a small bowl, whisk together the Asian sweet chili sauce, creamy peanut butter, hot sauce and water. Set aside.
Turn on your grill to high to let the grates start to clean themselves. Scrape the grates clean. Oil if needed. Turn one side of the grills' burners to medium heat. Turn the other side off.
Grill the short ribs on all four sides - about 2 minutes per side - on the medium hot side of the grill. Make sure to shut the grill lid between each turn of the ribs. You want all the outsides of the short ribs to be seared.
Place the ribs on the non-hot side of the grill, with the bone side on the bottom, touching the grill grates. Using a heat-safe brush, baste the short ribs with the Asian peanut sauce. Close the grill and cook the ribs until the internal temperature reads 145 degrees F.
Remove the short ribs from the grill and sprinkle them evenly with the salt. Allow them to rest at least five minutes before serving.
Serve the short ribs with the rest of the Asian peanut sauce for dipping. Cut the short ribs against the grain.