In a dutch oven or deep saucepan over medium-high heat, add 1 tablespoon of oil. Once oil is hot, toss in the chopped mushrooms.
Next, evenly pour and toss reduced-sodium soy sauce to the mushrooms. Stir occasionally and cook until liquid has been cooked off and there are golden bits to the mushrooms.
In the same dutch oven or saucepan, move the mushrooms to the sides in the pot. Add the last 2 tablespoons of oil. Add the sofrito, sazon, adobo seasoning, tomato sauce, Spanish olives, and bay leaves. Stir and cook for 1-2 minutes.
Then, add the carrots, potatoes, and water to the dutch oven/pot. Set heat to high to a boil. Once at a boil, lower temperature to a simmer. Cover with a lid.
Simmer for 15-20 minutes until carrots and potatoes are tender. To thicken stew, add 1/4 cup flour-and-water slurry (optional). Serve.