Pat the beef stew meat dry with a paper towel and season evenly with the sea salt and black pepper.
Heat the olive oil in a large heavy-bottomed pot or Dutch oven over medium-high heat.
Add the beef to the pot and sear until browned on all sides, then remove the meat and set it aside on a plate.
In the same pot, add the chopped onion, carrots, parsnips, and celery, sautéing for 5-7 minutes until the vegetables begin to soften.
Stir in the minced garlic and tomato paste, cooking for 1 minute until the mixture is fragrant and the paste darkens slightly.
Return the browned beef and any accumulated juices to the pot.
Pour in the beef bone broth and add the dried thyme, stirring to scrape up any flavorful browned bits from the bottom of the pot.
Bring the liquid to a gentle boil, then immediately reduce the heat to low and cover with a tight-fitting lid.
Simmer for 45 to 60 minutes, or until the beef is fork-tender and the vegetables are soft.
Remove from heat and let the stew sit for 5 minutes to allow the sauce to thicken slightly before serving.