Add popcorn kernels to the oil and the kernels should begin popping in approximately 2 minutes.
Shake the pan frequently without taking the cover off.
Continue to cook till popping slows down (approximately in 2 minutes) and then switch off the gas. Set the saucepan aside.
In a small saucepan, add butter and when it begins to melt, add sugar, maple syrup, salt, and chili powder. Bring the mixture to boil whilst stirring continuously. This should take approximately a minute.
Switch off the gas and set the mixture aside to let it cool for a minute or so.
Add this mixture to the popcorn and toss to coat.
Line a cookie sheet with parchment paper and spread the popcorn onto the cookie sheet to cool out.
Once the popcorn cools down, serve immediately or store it in an airtight container for a couple of days for future use.