Pat chicken thighs dry and season both sides with salt, pepper, smoked paprika, and garlic powder.
Heat olive oil in a large skillet over medium-high heat. Add chicken thighs skin-side down and sear until golden brown, about 5–6 minutes.
Flip chicken and cook another 5 minutes. Remove chicken from skillet and set aside.
In the same skillet, add steak strips and season with salt and pepper. Sear for 2–3 minutes until browned but still tender. Remove steak and set aside with chicken.
Reduce heat to medium. Add brown sugar and water to the skillet, stirring to dissolve the sugar and deglaze the pan, scraping up the flavorful bits.
Return chicken and steak to the skillet, spooning the glaze over the meat. Cover and simmer for 10 minutes, until the chicken is cooked through and the sauce thickens slightly.
Remove from heat and let rest a couple minutes before serving. Spoon extra glaze over the top and enjoy!