Heat your pot or caldero over medium-high heat. Add the oil, onions, peppers, sofrito, seasonings, and olives. Stir well until the sofrito releases its aroma.
Add the jackfruit and mix well.
Add the rice and vegetables. Pour in the water or broth.
The liquid should sit about ½ inch above the rice. Taste the liquid and adjust salt if needed. This step is important. You will want this liquid to be highly seasoned as it will determine the final flavor of the rice.
Allow the liquid to come up to a boil and for the rice to absorb all the visible liquid.
Once the liquid evaporates, stir the rice making sure you bring the rice on the bottom to the top, reduce the heat to low and cover. Add the cilantro on top if desired.
Let it steam for 20–25 minutes until the grains are fluffy and fully cooked.