Start by cutting your beef into bite-sized pieces. In a bowl, combine the Chinese five-spice powder, dark brown sugar, minced ginger, fish sauce, and garlic. Toss the beef bits in this mixture, coating them evenly. Let this sit for at least 30 minutes.

If you have the time to marinate it longer, even overnight is better! Marinating allows the flavors to penetrate the meat, which is delightful.

In a large pot, heat the cooking oil over medium heat. Add the sliced onion and sauté until they are translucent. This should take about 3-5 minutes.

Next, throw in the minced garlic and lemongrass. Cook them together until fragrant. Your kitchen will start to smell amazing, so try not to gobble everything up at this point!

Increase the heat to medium-high. Add the marinated beef to the pot. Sear the beef until it's browned on all sides, which should take about 5 to 7 minutes. Once that browning occurs, you’re developing flavors that will elevate the dish.

Pour in the water and coconut water. Stir in the tomato paste, star anise pods, black pepper, chili powder, and smoked paprika. The combination will result in a luscious broth that’s just waiting to merge with the beef. Bring it all to a gentle boil.

After the pot reaches a boil, reduce the heat to low. Cover and let it simmer for about 1.5 to 2 hours. Remember, patience is key. You’ll know it’s time when the beef becomes fork-tender and each bite melts in your mouth.

Once the beef is ready, add the carrots, kosher salt, soy sauce, chili oil, and lime zest. Stir gently. Allow this to cook for another 30 minutes, just until the carrots are tender yet still crisp.