Mix together cheddar cheese, pimentos, mayonnaise, cream cheese, garlic powder, onion powder, black pepper, and hot sauce. Mix until well-combined.
Spread flour onto a surface and roll out refrigerated pie crust. Using a circle cutter (3-4 inches), cut out even circles from the pie crust. Roll out excess dough to make more hand pies.
Whisk together 1 egg and 1 tbsp. of water. This will be the egg wash.
Spoon 1.5-2 tbsp. of pimento cheese into each pie circle. Brush egg wash around each circle. Bring one half of the circle over top of the other, sealing in the pimento cheese. Be sure to release any air that might be caught in the hand pies. Using a fork, crimp the edges to seal in the mixture. Brush the front and back of each hand pie with egg wash.
Place hand pies in the air fryer at 375F for 12-14 minutes or until the dough is browned. Serve warm and enjoy! If you do not have an air fryer, you can bake these in the oven at the same temperature for the same amount of time.