In a large pot, heat some oil over medium-high heat. Add the beef stew meat and cook until browned on all sides. Remove the beef from the pot and set aside.
In the same pot, add the chopped onion, minced garlic, and diced bell pepper. Cook until the vegetables are softened and fragrant.
Return the beef to the pot and add the sliced carrots, cubed potatoes, tomato sauce, beef broth, dried oregano, ground cumin, bay leaves, adobo, sazon, corn, salt, and pepper. Stir to combine.
Bring the soup to a boil, then reduce the heat to low and let it simmer for about 2-3 hours, or until the beef is tender and the flavors have melded together.
Remove the bay leaves and adjust the seasoning if needed.
Serve the Puerto Rican style beef soup hot, garnished with fresh cilantro for an extra burst of flavor.