Place the halved baby potatoes in a microwave-safe bowl with 2 tablespoons of water. Cover with a damp paper towel and microwave on high for 4 minutes (or par-boil in salted water for 5 minutes) until fork-tender but still holding firm shape. Drain thoroughly and pat dry with paper towels.

Heat 1 tablespoon olive oil and 1 tablespoon butter in a heavy 12-inch cast-iron skillet over medium-high heat. Place potatoes cut-side down in a single layer. Sear undisturbed for 4 to 5 minutes until crisp and deep golden brown on the cut side. Toss and cook 2 minutes more, then transfer potatoes to a plate.

Pat the steak cubes thoroughly dry with paper towels on all sides. Season evenly with smoked paprika, onion powder, garlic powder, coarse salt, and cracked black pepper.

Increase skillet heat to high and add the remaining 1 tablespoon of olive oil. Once the skillet is smoking hot, add the steak cubes in a single, uncrowded layer. Sear undisturbed for 2 minutes to develop a dark, caramelized crust. Flip and cook for 1 to 2 minutes more until browned on all sides (for juicy medium-rare to medium).

Reduce heat to medium-low. Add the remaining 3 tablespoons of butter, minced garlic, fresh rosemary, and fresh thyme to the pan. As the butter melts and foams furiously, use a spoon to baste the garlic herb butter repeatedly over the sizzling steak bites for 1 minute.

Return the crispy golden potatoes back into the skillet. Toss everything together vigorously for 1 minute so the potatoes soak up the rich, garlic-infused herb butter pan drippings. Remove from heat immediately, sprinkle generously with freshly chopped parsley, and serve piping hot straight from the skillet!