you’re still Asian, you’re viewed as Asian and had Asian parents. I think it would be messed up to check off hispanic and I’m sure colleges would have a problem with it if they saw you. Your narrative is not that of a Hispanic in Mexico because you were never viewed as one even if you lived among them. I actually think what you’re trying to do is get affirmative action instead of having being Asian count against you. This is not to say you cannot emphasize how growing up in a different environment has influenced you and even the way you perceive your identity I actually think that would make an interesting essay, but to say your Hispanic because you lived around Hispanics is pulling a Rachel Dolezal.