Start with olive oil, onions and peppers in a pan over medium heat. Cook for a few minutes, until the onions become translucent.
Add sofrito and sauté another minute before adding in ground beef. While the ground beef is browning, break it up with a wooden spoon.
Next add sazon, adobo, bay leaves, and tomato sauce. Mix to evenly incorporate everything into the beef. At this point, add olives and water before bringing to a boil.
Lower to a simmer, cover slightly and cook for 10 minutes or until beef is fully cooked. Add salt to taste, garnish with cilantro. Serve with rice, plantains, or pan de agua.
Crockpot Picadillo: follow the directions as instructed up until step 4 (just before lowing the temperature to a simmer and covering). At this step, transfer everything to your crockpot and cook on HIGH for 3-4 hours.
Instant pot Picadillo: follow the directions as instructed, sautéing everything directly in your Instant pot. At step 4, cover the Instant pot and cook on high pressure for 10 minutes.