Place Chobani in a fine-mesh sieve set over a medium bowl and drain in the refrigerator overnight.
Adjust oven rack to bottom-middle position and preheat oven to 375°F.
Remove Chobani from refrigerator and discard liquid. Turn Chobani into bowl and whisk in 1 egg and ¼ c confectioners’ sugar.
Set empanada circles on a parchment paper-lined baking sheet. Divide Chobani mixture among center of each pastry circle. Divide guava paste over Chobani.
Lightly beat 1 egg and brush edges of lower half of pastry circles with egg. Fold top half over and press to seal. Use a fork to crimp edges. Brush egg over top of empanadas and sprinkle with cinnamon sugar. Bake until golden, 12-15 minutes. Cool and dust with confectioners’ sugar before serving.