Heat oil in a large skillet over high heat. Add onion and saute until almost translucent, about 3 minutes. Add stew meat and cook, stirring occasionally, until browned on all sides; about 3 to 5 minutes.

Pour 2 cups water, soy sauce, and Worcestershire sauce into the skillet. Stir in garlic powder, salt, and pepper; bring to a boil. Reduce the heat, cover, and simmer until meat is tender, 1 1/2 to 2 hours.

When the meat is almost finished, mix remaining 1 cup water and gravy mix until thoroughly combined; stir into the meat mixture and bring to a boil. Cook, stirring frequently, until slightly thickened.