Step 1: First, calculate \( \sin \frac{5\pi}{3} \). Since \( \frac{5\pi}{3} \) is in the fourth quadrant, the sine of this angle is negative.
We know that:
\[
\frac{5\pi}{3} = 2\pi - \frac{\pi}{3}.
\]
Thus,
\[
\sin \frac{5\pi}{3} = \sin \left( 2\pi - \frac{\pi}{3} \right) = -\sin \frac{\pi}{3} = -\frac{\sqrt{3}}{2}.
\]
Step 2: Now, find the principal value of \( \sin^{-1} \left( -\frac{\sqrt{3}}{2} \right) \). The principal value of the inverse sine function lies between \( -\frac{\pi}{2} \) and \( \frac{\pi}{2} \).
We know that \( \sin \left( -\frac{\pi}{3} \right) = -\frac{\sqrt{3}}{2} \), so:
\[
\sin^{-1} \left( -\frac{\sqrt{3}}{2} \right) = -\frac{\pi}{3}.
\]
Thus, the answer is \( -\frac{\pi}{3} \).