In a small pot or heavy-bottomed skillet, heat the extra virgin olive oil over medium heat.
Add the diced yellow onion and bell pepper, sautéing for 3-4 minutes until the vegetables begin to soften.
Stir in the minced garlic and cook for another 30 seconds until fragrant.
Add the ground beef to the pot, breaking it up with a wooden spoon, and cook until it is fully browned.
Sprinkle the smoked paprika, chili powder, sea salt, and black pepper over the beef and stir to coat the meat evenly.
Pour in the tomato puree, rinsed kidney beans, and water, stirring well to combine all ingredients.
Bring the mixture to a gentle boil, then reduce the heat to low and simmer for 15-20 minutes until the chili has thickened to your desired consistency.
Taste and adjust seasoning if necessary, then serve hot in a deep bowl.