Heat the oil in a large pot over medium-high heat. Add the beef and cook until browned on all sides, about 5 minutes.
Add the onions and cook until translucent, about 5 minutes. Stir in the curry paste and cook until just aromatic, about 30 seconds.
Pour in the beef broth and bring to a simmer. Add the potatoes and cook until just tender, 7 to 10 minutes.
Add the peas and coconut milk then return to a light simmer. Be careful not to let the curry boil, as it will split. Simmer to meld the flavors, for 10 to 15 minutes. Serve with the cooked rice.