Put the water, half of the canola oil, and half of the Adobo seasoning in a pot, and leave it to boil on high heat.
Dice the slice of ham into cubes.
Mix the sofrito, the recaíto, the rest of the canola oil, the tomato sauce, the packet of sazón, the rest of the Adobo seasoning, and the diced ham in a pan, and sauté it on medium-high heat for a few minutes.
Once the water in the pot is boiling, put the rice in and give it a quick stir.
Turn the heat down to medium and let it cook for a couple of minutes.
Open and drain the can of pigeon peas.
Once approximately one third to one half of the water has been absorbed by the rice, stir in the contents of the pan, the pigeon peas, and the olives (if desired) to the pot of rice, and let it cook until there’s only a little bit of water left covering the contents.
Set the heat to medium low and cover the pot.
Leave it to cook for a few minutes, stir it, and cover it again, and let it cook for a few more minutes, until the rice is fully cooked through.