Marinate the beef – In a bowl, season beef strips with soy sauce, sazón, adobo, oregano, and garlic. Let it sit for at least 20 minutes (overnight is even better for flavor).
Sear the beef – Heat oil in a large skillet or pan. Add the sugar, let it caramelize slightly, then add the beef. Sear until browned on the edges. Don’t overcrowd the pan; cook in batches if needed.
Add sofrito & tomato paste – Stir in sofrito and tomato paste, coating the beef well. This creates the base of the gravy.
Simmer with liquid – Pour in water or beef broth, bring to a boil, then lower the heat. Let it simmer for 15 minutes until the meat is tender.
Add peppers & onions – Stir in red pepper, green pepper, and onion slices. Let them cook until just softened but still a little crisp, about 7–8 minutes.
Adjust flavors – Taste the gravy and adjust with salt, pepper, or extra soy sauce if needed.
Serve hot – Spoon the pepper steak and gravy over fluffy white rice, with fried plantains or bread on the side.